Classifying Workers in a Factory According to Whether They Are

question 75

Multiple Choice

Classifying workers in a factory according to whether they are blue-collar or white-collar workers is using a(n) ________ scale.

• A) nominal
• B) ordinal
• C) ratio
• D) interval

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Definitions:

Interdependence

The mutual reliance between two or more entities, where the actions of one significantly affect the other, prevalent in global economies.

Gains From Trade

The benefits that parties obtain from engaging in voluntary trade, often resulting in an increase in overall economic efficiency and consumer welfare.

Gain From Trade

Refers to the increase in output and consumption that countries experience through specialization and exchange of goods and services.

Production Possibilities Frontier

An illustration that represents the utmost production capabilities for any two commodities, based on a combination of inputs like resources and additional elements.