Mike and Tom debone chicken breasts for Ted's Chicken Co. Mike is new and can only debone 60 chicken breasts per hour, while Tom's experience allows him to debone 120 chicken breasts per hour. Both Mike and Tom work 40 hours per week. Their average hourly productivity as a team is ________ chicken breasts.
A. 90
B. 60
C. 100
D. 75
Answer: A
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Suppose that a country has an inflation rate of about 3 percent per year and a real GDP growth rate of about 3 percent per year. How large of a deficit can the government run (as a percentage of GDP) without raising the debt-to-income ratio?
The inflation caused by supply shocks is called:
a. demand-pull inflation. b. cost-push inflation. c. wage inflation. d. expected inflation.
Currency and checkable deposits are:
A. Assets of the Federal Reserve Banks or of financial institutions B. Redeemable for gold and silver from the Federal Reserve System C. Of intrinsic value which determines the relative worth of money D. The major components of money supply M1
The length of time before policymakers realize they need to intervene in the economy is called the
A) recognition lag. B) implementation lag. C) impact lag. D) liquidity lag.