Solve the Problem. -An Auto Repair Shop Charged a Customer $417 to Repair

question 169

Multiple Choice

Solve the problem.
-An auto repair shop charged a customer $417 to repair a car. The bill listed $67 for parts and the remainder for labor. If the cost of labor is $50 per hour, how many hours of labor did it take to repair the car?

• A)6 hr
• B)7.5 hr
• C)8 hr
• D)7 hr

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Definitions:

Policy Announcement

A policy announcement is an official statement made by a government or institution detailing specific plans or changes in policy aimed at affecting economic or social outcomes.

Money Expansion

The increase in the total quantity of money in circulation within an economy, often achieved through central banking policies.

Fed Officials

Members of the Federal Reserve, the central banking system of the United States, who are responsible for monetary policy decisions.

Rational Expectations Theory

A hypothesis proposing that individuals form forecasts about the future based on all available information in an unbiased and consistent manner.