In the Widget Industry,it Takes Two Workers (With Other Inputs)to

question 21

Multiple Choice

In the Widget industry,it takes two workers (with other inputs) to produce each widget and since consumers demand 1000 widgets at its current price,2000 workers are employed in the industry.Which of the following could occur if the price of capital falls and labor and capital are substitutes in production?

• A) It takes 2.2 workers per widget and 1200 widgets are produced and sold.
• B) It takes 1.9 workers per widget and 1200 widgets are produced and sold.
• C) It takes 2.2 workers per widget and 900 widgets are produced and sold.
• D) It takes 1.9 workers per widget and 900 widgets are produced and sold.

Acknowledge the paradox of technological advancement versus its impact on social and personal problems.

Identify the reasons people engage in self-realization programs and the expectations tied to these.

Discern the gender differences in happiness and mental health treatment.

Analyze common misconceptions and truths about happiness.

---

Definitions:

Cash Ratio

A financial metric assessing a firm's capability to meet its current obligations using its available cash and near-cash assets.

Cash on Hand

The amount of cash a company or individual has accessible for immediate use, which might be in the form of currency or liquid assets.

Current Assets

Short-term assets including cash, inventory, and receivables that are anticipated to be used or liquidated within one business cycle.

Quick Ratio

A measure of a company's ability to meet its short-term obligations with its most liquid assets, excluding inventory.