Jim and Fred Are the Only Two Cashiers Employed at a Retail

question 116

Multiple Choice

Jim and Fred are the only two cashiers employed at a retail store. Each of them works the same 40 hours per week and each can check out 30 customers per hour by manually entering the price of each product purchased into the cash register. The store owner replaces the old cash registers with new ones that automatically scan product prices into the register. With the new cash registers, Jim and Fred can each check out 60 customers per hour. Their average labor productivity as a team before the new cash registers were introduced was ________ customers per hour and ________ customers per hour after the new machines were installed.

• A)30; 60
• B)30; 120
• C)60; 120
• D)1,200; 2,400

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Definitions:

Nationally Focused

Concentrating efforts, policies, or interests on issues within a single country rather than on international perspectives or concerns.

Public Sector Budget Austerity

Economic policy measures that involve significant reductions in government spending and benefits, often used to reduce public sector debt.

Financialization

Financialization denotes the increasing dominance of financial markets, financial motives, financial institutions, and financial elites in the economy, shaping corporate and economic policies.

Financial Institutions

Organizations that provide financial services, such as banks, insurance companies, pension funds, and investment firms.