Buddy Is the Owner of a Firm That Bottles Beer

question 19

Multiple Choice

Buddy is the owner of a firm that bottles beer in St.Louis,Missouri.There are many other such firms in the area.Buddy decides that if he pays his workers a wage higher than the going market wage,his profits will increase.Which of the following is a likely explanation for his decision?

• A)The higher the wage,the less often his workers will choose to leave his firm.
• B)The higher the wage,the lower will be the costs of obtaining needed supplies.
• C)The higher the wage,the more he can charge for his beer
• D)The higher the wage,the more he will have to monitor his workers for shirking.

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Definitions:

Stanford-Binet Intelligence Scale

A standardized test designed to measure human intelligence and cognitive abilities in five factors: fluid reasoning, knowledge, quantitative reasoning, visual-spatial processing, and working memory.

Intelligence Quotient

A numerical measure of a person's cognitive abilities relative to their age group, typically obtained through standardized tests.

Stanford-Binet Intelligence Scale

A standardized test designed to measure human intelligence and cognitive abilities based on a series of questions and tasks.

Intelligence Quotient

A score derived from standardized tests designed to measure human intelligence and cognitive abilities in relation to an age group.