Waldo works eight hours and produces 7 unitsof goods per hour. Emerson works six
ID: 1230987 • Letter: W
Question
Waldo works eight hours and produces 7 unitsof goods per hour. Emerson works six hours and produces 10 units ofgoods per hour.A. Waldos productivity and output are greater than Emerson.
B. Waldos productivity is greater than Emerson?s buthis output is less.
C. Emersons productivity and output are greater thanWaldos.
D. Emerson?s productivity is greater than Waldo?s buthis output is less.
Part II
When opening a restaurant you may need to buy ovens, freezers,tables, and cash registers. Economists call these expenditures
A. capital investment.
B. investment in human capital.
C. business consumption expenditures.
D. None of the above is correct.
Part III
Lekeisha's income exceeds her expenditures. Lekeisha is a
A. saver who demands money from the financialsystem.
B. saver who supplies money to the financialsystem.
C. borrower who demands money from the financialsystem.
Explanation / Answer
Waldo works eight hours and produces 7 unitsof goods per hour. Emerson works six hours and produces 10 units ofgoods per hour. A. Waldos productivity and output are greater than Emerson. B. Waldos productivity is greater than Emerson?s buthis output is less. C. Emersons productivity and outputare greater than Waldos.- because waldos only produce 7/hr compareto emerson's 10/hr and Waldos produces only 56 while Emersonproduces 70 D. Emerson?s productivity is greater than Waldo?s buthis output is less. Part II When opening a restaurant you may need to buy ovens, freezers,tables, and cash registers. Economists call these expenditures A. capital investment. - instrumentsthat help you run a business that is not labor B. investment in human capital. C. business consumption expenditures. D. None of the above is correct. Part III Lekeisha's income exceeds her expenditures. Lekeisha is a A. saver who demands money from thefinancial system. - since her money stays with her, kind like aleakage B. saver who supplies money to the financialsystem. C. borrower who demands money from the financialsystem.
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