A City Has a Total of 200,000 Workers,with 100,000 Engaged

question 46

Multiple Choice

A city has a total of 200,000 workers,with 100,000 engaged in nonbasic activities.What is the basic/nonbasic ratio?

• A)1: 1
• B)1: 2
• C)2: 1
• D)1: 1.5

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Definitions:

Selling Price

The amount a buyer pays to purchase a product or service from a seller.

Variable Cost

A cost that varies with the level of output or production, such as materials and labor directly involved in manufacturing.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business, such as rent or a salaried employee's wages.

Variable Costs

Expenses that change in proportion to the activity or volume of production, sales, or services rendered.