If the Price of Widgets Is $2 and the Real

question 34

Multiple Choice

If the price of widgets is $2 and the real wage is $20 per hour then the firm must sell 10 widgets to cover the cost of an hour of labour. If the price of widgets rises to $4, how many widgets must the firms sell to cover the cost of an hour of labour?

• A) 15
• B) 5
• C) 12
• D) 10
• E) 20

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Definitions:

Colorblind Racism

The ideology that disregards racial characteristics when evaluating an individual, potentially ignoring systemic inequalities.

Racial Categories

Classifications of humans into groups based on physical traits, ancestry, genetics, or social relations, often used for societal and governmental identification.

Official Institutions

Formal organizations recognized by the government or society at large that play a significant role in public and administrative life.

Racial Formation

A process by which social, economic, and political forces determine the content and importance of racial categories, and by which they are in turn shaped by racial meanings.