A manufacturer reports the following information below for its first three years in operation. Year 1 Year 2 Year 3

Income under variable costing $76,000 $109,000 $115,000
Beginning inventory (units) 0 800 500
Ending inventory (units) 800 500 0
Fixed manufacturing overhead per unit $8.00 $8.00 $8.00

Income for year 3 using absorption costing is:

a. $109,000
b. $117,000
c. $106,600
d. $115,000
e. $111,000

Label each of the following statements true, false, or uncertain. explain your choice carefully. a. workers benefit equally from the process of creative destruction. b. in the past two decades, the real wages of low-skill u. s. workers have declined relative to the real wages of high-skill workers. c. technological progress leads to a decrease in employment if, and only if, the increase in output is smaller than the increase in productivity. d. the apparent decrease in the natural rate of unemployment in the united states in the second-half of the 1990s can be explained by the fact that productivity growth was unexpectedly high during that period.