Table 18-1 -Refer to Table 18-1. When the Second Worker Is Hired

question 59

Multiple Choice

Table 18-1

-Refer to Table 18-1. When the second worker is hired, what is the change in profit?

• A) $500
• B) $300
• C) $100
• D) $-100

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Definitions:

Unemployed People

Individuals of working age who are without work, but are available for and seeking employment.

Globalization

The process of interaction and integration among people, companies, and governments worldwide, which has been accelerated by advances in transportation and communication technology, with significant implications for economies, culture, and political systems.

Hourly Wages

The amount of money paid to an employee for one hour of work.

Income Effect

Variations in the income levels of individuals or economies and the resultant effects on the demand for goods or services.