The Total Operating Cost of Producing Services Is $125 000

question 67

Multiple Choice

The total operating cost of producing services is $125 000 for a loan volume of $12 500 000. What is the average cost of loan production for the bank?

• A) 0.1 per cent
• B) 1 per cent
• C) 10 per cent
• D) 100 per cent

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Definitions:

Economic Strike

A strike action undertaken by workers to achieve better wages, hours, and working conditions, as opposed to strikes for political reasons.

NLRA Section 8(a)(3)

Part of the National Labor Relations Act that outlines unfair labor practices by employers, particularly around discrimination against employees for union involvement.

Immediate Reinstatement

The rapid return of an individual to their previous position or status, often following an unfair dismissal or suspension.

Union Organizing Drive

A concerted effort by workers and/or union representatives to gain union representation in a workplace.