According to a 1963 Edition of the Effingham Daily News

question 99

Multiple Choice

According to a 1963 edition of the Effingham Daily News, Illinois Consolidated Telephone Co. switched from the switchboard system to the dial system at 12:01 a.m. Sunday, Aug. 18, 1963. Thirty miles of cable supported the new high-tech system. It took four weeks to lay the telephone lines that allowed Effingham residents to directly connect to each other through the telephone. How does the switch from the switchboard system to the dial system impact the labor market for switchboard operators?

• A) Increased the demand for telephone operators
• B) Increased the supply for telephone operators
• C) Decreased the marginal productivity of telephone operators
• D) Decreased telephone operators' value of marginal product

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Definitions:

Partnership Investment

A contribution of assets by a partner to a partnership, often in exchange for a share of the partnership's profits.

Equipment

Assets used in the operation of a business or manufacturing process, which have a long-term use and value.

Income Ratio

A financial metric that compares various incomes to a particular benchmark, such as net income to sales or investment income to total assets.

Sharing Income

The distribution of profits among partners or shareholders in a business, often according to the proportion of ownership.