Under a Modified Wage Plan, an Employee Working an Eight-Hour

question 31

Multiple Choice

Under a modified wage plan, an employee working an eight-hour day earns $.40 for each finished unit and is guaranteed $20 per hour as a minimum wage. At what level should the daily quota be set?

• A)160 units
• B)400 units
• C)500 units
• D)640 units

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Definitions:

Bourgeoisie

The social class that owns the means of production in a capitalist society, typically contrasted with the working class or proletariat.

Capitalism

An economic system characterized by private or corporate ownership of capital goods, by investments determined by private decision, and by prices, production, and the distribution of goods determined mainly by competition in a free market.

Economist Amartya Sen

An Indian economist and philosopher, noted for his contributions to welfare economics, social choice theory, and for his work on famine, human development theory, and the underlying mechanisms of poverty.

Famine

Famine is a severe shortage of food, often due to disaster, war, or economic failure, leading to widespread hunger and malnutrition.