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nikklg [1K]
3 years ago
12

What is a difference between unemployment and other underused resources, such as unburnt fuel or an idle factory? Select one: a.

Unemployment represents foregone production in the economy. b. The productive potential of labor unused today is lost forever. c. Unspent fuel and idle plants lose some of their productivity capacity when they lie fallow while unused labor does not. d. The providers of labor do not notice the reduction in demand for their good or service. e. All of these answers are differences between unemployment and other underused resources.
Business
1 answer:
fomenos3 years ago
3 0

Answer:

B) The productive potential of labor unused today is lost forever.

Explanation:

The greatest difference between labor and the other factors of production is that labor is extremely perishable. In other words, if you do not work one day, that lost labor cannot be recovered. Labor is similar to services in a way that they cannot be stored or accumulated, nor they can be postponed. But that doesn't mean that all unemployment is negative. Cyclical unemployment is always negative, but if the unemployment rate is below the natural rate, then it means that the economy is overheated. A low unemployment rate is always healthy, e.g. 3.5-4.5%.

Other factors of production can be accumulated, e.g. you can store fuel.

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3 0
3 years ago
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A company has established 5 pounds of Material J at $2 per pound as the standard for the material in its Product Z. The company
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Answer:

The correct  option is  B

$400 unfavorable

Explanation:

Material quantity variance occurs when the actual quantity used to achieved a given level of output is more or less than the standard quantity.

It is determined by the difference between the actual and standard quantity of material for the actual level of output multiplied by the the standard price

                                                                                                    pounds

Standard quantity allowed (5 × 1000)                                     5,000

Actual quantity                                                                     <u>     5,200</u>

                                                                                                200 unfavorable

Standard price                                                                       <u>×$2</u>

The quantity variance ($)                                                   <u>$400</u>unfavourable        

4 0
3 years ago
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