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Author Question: The Bubby Gum factory produces bubble gum. Joanne is one of the employees, and she produces 10 packs ... (Read 114 times)

sammy

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on: Jun 30, 2018
The Bubby Gum factory produces bubble gum. Joanne is one of the employees, and she produces 10 packs of bubble gum per hour. Joanne's money wage rate is 12 per hour. If a packet of bubble gum sells for 1.00, then
 
  A) Joanne is creating a 2.00 per hour profit for the firm.
  B) Joanne is creating a 2.00 per hour loss for the firm.
  C) the Bubby Gum company should pay Joanne more.
  D) the Bubby Gum company should decrease the price of the bubble gum so it sells more and makes a larger profit.
  E) None of the above answers is correct because more information about Joanne's real wage is needed to decide what to do.

Question 2

A time-series graph measures
 
  A) the value of one variable against the value of another variable.
  B) the value of an economic variable for different groups in a population at a point in time.
  C) time on the x-axis and the variable or variables in which we are interested on the y-axis.
  D) time on both the x-axis and y-axis and the variable or variables in which we are interested in the rest of the figure.
  E) time on the y-axis and the variable or variables in which we are interested on the x-axis.


sarahccccc

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

C


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