-The Above Figure Shows a Labor Market

question 106

Multiple Choice

-The above figure shows a labor market.Before the minimum wage of $8 an hour is imposed,employment equals ________ workers; after the minimum wage of $8 an hour is imposed,employment equals ________ workers.

• A) 80,000; 40,000
• B) 40,000; 80,000
• C) 60,000; 40,000
• D) 60,000; 80,000
• E) 80,000; 60,000

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Definitions:

Manufacturing Operations

The activities involved in the production of goods in a factory, including the machinery, personnel, and processes used.

Customer Contact

Customer contact involves any direct interaction between a company and its customers, aimed at improving service, sales, and customer satisfaction.

Capital Intensive

A business that depends greatly upon equipment and capital for its operations.

Labor Intensive

A business that is more dependent on the services of people than on money and equipment.