Phil Works for a Hydro Company in a 35 Hour

question 34

Multiple Choice

Phil works for a hydro company in a 35 hour work week schedule. His contract pays him $1345/week for working Monday to Friday, 7 hours a day. If he spends more time than his usual time, he is entitled to "time and a half" on time worked in excess of 7 hours per day. If he works on Sundays or statutory holidays, he is entitled to twice the time. Calculate his gross earnings for the month of November 2013, if he worked straight time only.

• A) $5380
• B) $4035
• C) $5649
• D) $8473.50
• E) $11 298

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Definitions:

Shift Left

A decrease in the supply or demand of a product in a market diagram, typically resulting in a lower equilibrium quantity and potentially a higher or lower equilibrium price.

Demand

The quantity of a good or service consumers are willing and able to purchase at various prices.

Normal Good

a good for which demand increases as the income of consumers increases and falls when their income decreases, assuming all other factors are constant.

Income Level

The amount of monetary or material wealth that an individual, family, or group receives, usually quantified on an annual basis.