Bill Works a Minimum Wage Job

question 3

Multiple Choice

Bill works a minimum wage job. Due to a drug habit, he is always short on funds; additionally, he feels underpaid, and says to himself the the company owes him. Bill knows that the company has security cameras placed above each register, and will do surprise cash counts throughout each shift; therefore, because there is no __________, Bill is less likely to commit fraud.

• A)perceived pressure
• B)rationalization
• C)perceived opportunity
• D)internal controls

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Definitions:

Short Run

A period of time in which at least one input, typically capital, is fixed, and producers can only adjust the variable inputs like labor.

Long Run

A period in economics during which all inputs and operations can be varied, allowing for the adjustment to changes in market conditions or demand.

Very Long Run

In microeconomics, a period of time long enough that technology can change and firms can introduce new products.