Nathan Owns a Coffee Shop

question 38

Multiple Choice

Nathan owns a coffee shop.He wants to increase the weekly number of coffee drinks he sells,and he wants to use a technological advance to do so.________ would represent a technological advance at his coffee shop.

• A) An increase in the number of employees
• B) An improvement in the quality of coffee drinks he serves
• C) An increase in the number of tables and chairs for his customers
• D) Acquiring a new espresso machine that can prepare coffee drinks faster than his current model
• E) A larger building

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Definitions:

Labor Force

The total number of people employed and unemployed, actively seeking work in an economy.

Equilibrium Level

The state in which market supply and demand balance each other, resulting in stable prices and quantities.

Unemployment

The situation when people who are willing to work at prevailing wage rates cannot find jobs.

Equilibrium

A state in which supply and demand are balanced, resulting in stable prices.