Answer:
Cyclical unemployment is the loss of jobs due to a recession or downturn in an economy.
Explanation:
Cyclical unemployment is a type of unemployment. It is also known as Keynesian or deficient-demand unemployment. This type of unemployment occurs when the overall demand in an economy is not enough to provide jobs to the people who want to work. Cyclical unemployment is observed during the periods of slow economic growth or recession.
A matrix organizational structure is a company structure in which the reporting relationships are set up as a grid, or matrix, rather than in the traditional hierarchy. In other words, employees have dual reporting relationships - generally to both a functional manager and a product manager.
Answer:
$28,050
Explanation:
Calculation to determine what total amount of direct manufacturing cost incurred is closest to
Using this formula
Total direct manufacturing cost=Direct manufacturing cost per unit *Number of units produced
Where,
Direct manufacturing cost per unit=$9.35
(Direct materials $ 6.00 +Direct labor $ 3.35)
Number of units produced=3,000
Let Plug in the formula
Total direct manufacturing cost=$ 9.35 *3,000
Total direct manufacturing cost= $28,050
Therefore total amount of direct manufacturing cost incurred is closest to $28,050
The true statement among the given option is option a)Economic profit include opportunity costs.
Opportunity costs are revealed through implicit costs. Only explicit costs are included in accounting profit. However, economic profit includes both implicit and explicit costs. Opportunity cost is included on economic profit because economic profit includes implicit costs, and implicit costs display opportunity costs.
The key benefits of opportunity costs include: Awareness of Lost Opportunity: Opportunity costs make you think about the fact that, when choosing between possibilities, you lose up something in the one that is not chosen.
Therefore the correct option is a)Economic profits include opportunity costs.
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Answer:
D
Explanation:
The negative slope of production possibilities frontiers reflects opportunity costs.
