If the Standard Time for Producing One Unit of Work

question 57

Multiple Choice

If the standard time for producing one unit of work in a job paying $5.00 per hour were set at 6 minutes, what would the piece rate be?

• A) $1.00 per unit
• B) $1.50 per unit
• C) $0.50 per unit
• D) $0.75 per unit

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Definitions:

Political Argument

A discussion or debate involving opposing viewpoints or perspectives on issues related to governance, policies, or political ideologies.

Minimum Wages

The lowest legal hourly pay that workers can be paid, set by government legislation.

Equilibrium Wage

The wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers.

Prevailing Wage

The average wage paid to employees in a specific area or industry, often determined for purposes of setting minimum wage levels on government contracts.