Chris Is a University Student Who Has a Summer Job

question 87

Multiple Choice

Chris is a university student who has a summer job, where she works 40 hours a week making a particular kind of hockey stick. She usually can make 100 hockey sticks in two weeks. Her employer gave her the option of being paid $400 every two weeks for the 80 hours she worked, or being paid $400 for every 100 hockey sticks she made. Chris's pay options correspond to

• A)a variable-interval schedule or a variable-ratio schedule
• B)a fixed-interval schedule or a fixed-ratio schedule
• C)a variable-ratio schedule or a fixed-interval schedule
• D)a fixed-ratio schedule or a variable-interval schedule

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Definitions:

Demand Instrument

A financial instrument that is payable immediately upon demand, such as a check or certain promissory notes.

Definition

A precise statement or description of the nature, scope, or meaning of something.

Check

A draft drawn by a drawer ordering the drawee bank or financial institution to pay a certain amount of money to the holder on demand.

Negotiable

Capable of being transferred or exchanged through endorsement or delivery, usually in the context of financial instruments.