The Manager of the Customer Service Department at a Bank

question 27

Multiple Choice

The manager of the customer service department at a bank can hire employees with a high school degree HS) who earn $10,000 annually or employees with a bachelor's degree B) who earn $20,000.The manager wants to maximize the number of customers served given a fixed payroll. Given the above info,if the manager currently has three HS and three B,what must be true?

• A)More customers could be served if the manager hires fewer HS and more B.
• B)More customers could be served if the manager hires more HS and fewer B.
• C)The manager is making the correct decision because the marginal contributions are proportionate.
• D)The manager is not making the correct decision because bachelor's degree holders are more productive at all levels of customer served. .

Understand the structure and elements of the circular-flow diagram in economics.

Identify the role of households and firms in the circular-flow diagram.

Recognize the factors of production and their significance in the economy.

Comprehend the concept of the production possibilities frontier and its implications.

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Definitions:

VPN

Virtual Private Network extends a private network across a public network, enabling users to send and receive data across shared or public networks as if their computing devices were directly connected to the private network.

Trusted Network

A secure network that is trusted to operate within certain security parameters to protect the confidentiality, integrity, and availability of the data and devices within it.

Trojan Horse

A malicious program disguised as legitimate software that is used to hack into the victim's computer.

Logic Bomb

A piece of code intentionally inserted into a software system that will set off a malicious function when specified conditions are met.