A binding minimum wage tends to cause unemployment. When a minimum wage is set above the market equilibrium, which is the point at which the quantity of labor supplied equals the quantity of labor demanded, it becomes binding.
Employers will only demand a limited amount of labor at the higher wage rate, whereas workers will be willing to offer more labor at that higher wage rate. This leads to a situation in which there is a surplus of labor that exceeds the demand. Employers will also cut back on hiring since they must pay more for each worker. The effect of the minimum wage is therefore to raise the unemployment rate in the market.
The impact of a binding minimum wage on the market for teenage labor is the highest. Employers may prefer to hire older and more experienced workers if the minimum wage is set too high. This is because teenagers may be less experienced or qualified than older workers. They may also be less productive, and the cost of training them may be higher. Teenagers may, therefore, find it more difficult to find employment if the minimum wage is set too high.All of the above are correct. A binding minimum wage will lead to a surplus of labor, unemployment, and have the greatest impact on the market for teenage labor.
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How important is money
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
If a nation has a comparative advantage in the production of x, this means the nation:
Answer:
must give up less of other goods than other nations in producing a unit of X
Explanation:
If a nation has a comparative advantage in the production of x, this means the nation must give up less of other goods than other nations in producing a unit of X.
Mr. Mogi borrowed $9000 for 10 years to make home improvements. If he repaid a total of $20,000 at what interest rate did he borrow the money?.
Based on the information given the interest rate the he borrow the money is 122.22%.
Interest rateUsing this formula
Interest rate=Repayment-Amount borrowed/Amount borrowed×100
Where:
Repayment=$20,000
Amount borrowed=$9,000
Let plug in the formula
Interest rate=$20,000-$9,000/$9,000×100
Interest rate=$11,000/$9,000×100
Interest rate=122.22%
Inconclusion the interest rate the he borrow the money is 122.22%.
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how are wages determined in a free market?
Answer:
Classical economists argue that wages—the price of labor—are determined (like all prices) by supply and demand. They call this the market theory of wage determination. ... Long story short: the price of labor is determined in the free market just like every other price, by the intersection of supply and demand.
Explanation:
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Explain the criticisms of labor unions today. 25 POINTSS
One major criticism of labor unions today is that they have become too large and are out of touch with workers’ needs. In the past, union leadership has shown a pattern of corruption and many people worry that this trend continues today. Some people argue that union activity has hurt the US economy; higher union wages have meant higher prices for consumer goods and the introduction of improved technology has been slow as unions fear it will result in fewer employees.
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What are 2 things you should have financially ready before you purchase a home?
There are several financial considerations that you should be prepared for when purchasing a home. Here are two things that you should have financially ready before making a home purchase:
A down payment: A down payment is a payment made in advance as part of the purchase price of a home. Typically, lenders require a down payment of at least 20% of the purchase price of a home, though some programs may allow for lower down payments. It's important to have a down payment saved up before you start looking for a home, as it will be necessary to make an offer on a property.
Closing costs: Closing costs are the fees and expenses associated with buying a home. These can include things like lender fees, title insurance, property taxes, and other costs. It's important to have enough money saved up to cover these costs, which can add up to several thousand dollars or more. You should be prepared to pay these costs at the time of closing, which is when you finalize the purchase of the home.
What happens to the principal paid over time?
Answer:
Over time, as you pay down the principal, you owe less interest each month, because your loan balance is lower. So, more of your monthly payment goes to paying down the principal. Near the end of the loan, you owe much less interest, and most of your payment goes to pay off the last of the principal.
Answer:
If the investment is financed 100% with debt, the company's cost of equity is the cost of debt. This financing scheme in commercial businesses is unlikely, it could occur in situations of selective promotion, social support for example, or temporarily, as is the case of a bridge loan, to be replaced by another type of loan. financing; where the first is short term and the second medium and long term. In this sense, the need to finance investments with medium and long-term resources stands out, that is, with a payment schedule that implies future commitments according to the nature of the financed asset. The investment, due to its amount, generates periodic returns or returns that its maturation process has, according to the competitive capacity of the production technology used, market acceptance and the application of management in accordance with the demands of the environment.
Explanation:
Internal channels of business communication are designed to reach _____.
1) within the business itself
2) coworkers and upper management within the company
3) a small, targeted group of consumers
4) a large percentage of the consumer market
Answer: coworkers and upper management within the company
Explanation:
Internal channels of business communication are designed to reach coworkers and upper management within the company.
Internal communication is simply the communication that takes place between the workers in a company and the top management. It is an open communication strategy that is used in order to carry everyone along and also achieve organizational goals.
ACold Inc. Is a frozen-food distributor with 10 warehouses across the country. Ivan Tory, one of the warehouse managers, wants to make sure that the inventory policies used by the warehouse are minimizing inventory while still maintaining quick delivery to ACold's customers. Because the warehouse carries hundreds of different products, Ivan decided to study one. He picked Caruso's Frozen Pizza (CFP). Demand for CFPs averages 400 per day with a standard deviation of 152. Because ACold orders at least one truck from its supplier each day, ACold can essentially order any quantity of CFP it wants each day. In fact, ACold's computer system is designed to implement an order-up-to policy for each product. Ivan notes that any order for CFPs arrives four days after the order.
ACold Inc. Is a frozen-food distributor with 10 warehouses across the country. Ivan Tory, one of the warehouse managers, wants to make sure that the inventory policies used by the warehouse are minimizing inventory while still maintaining quick delivery to ACold's customers. Because the warehouse carries hundreds of different products, Ivan decided to study one. He picked Caruso's Frozen Pizza (CFP). Demand for CFPs averages 400 per day with a standard deviation of 152. Because ACold orders at least one truck from its supplier each day, ACold can essentially order any quantity of CFP it wants each day. In fact, ACold's computer system is designed to implement an order-up-to policy for each product. Ivan notes that any order for CFPs arrives four days after the order.
Suppose it uses an order up to level of 2410. What is its expected on-hand inventory?
Answer:
The expected Inventory on -hand = 429.074
Explanation:
From the given information;
Mean i,e Demand for CFPs averages = 400 per day
standard deviation = 152
Lead TIme = 4 days
period length = ACold Inc. orders at least one truck from its supplier each day,
Let consider the fact that the order is up to level of S = 2410
Then, the expected demand for the lead time is;
\(\mu\) = Demand × (Lead time + period length)
\(\mu\) = 400 × ( 4 + 1)
\(\mu\) = 400 × 5
\(\mu\) = 2000
the standard deviation for the lead time as well is :
\(\sigma\) = standard deviation sd\(\sqrt{lead \ time \times period \ length }\)
\(\sigma\) = \(152 \sqrt{4+1}\)
\(\sigma\) = \(152 \sqrt{5}\)
\(\sigma\) = 339.88
The z - value for the test statistics can now be computed as:
\(z = \dfrac{X - \mu}{\sigma}\)
\(z = \dfrac{2410 - 2000}{339.88}\)
\(z = \dfrac{410}{339.88}\)
\(z = 1.2063\)
z = 1.21
The order upto level = Inventory on -hand + Inventory order - Backorders
The order upto level - Inventory order + Backorders = Inventory on -hand
Inventory on -hand = The order upto level - Inventory order + Backorders
where ;
the backorders = \(\sigma L(z)\) and \(L(z)\) = standard loss
From the tables of distribution function and inventory function for standard normal distribution function
L(z) = 0.0561
the backorders can now be = 340 × 0.0561
the backorders can now be = 19.074
Recall that :
Inventory on -hand = The order upto level - Inventory order + Backorders
consider the fact that the order is up to level of S = 2410
∴ Inventory on -hand = 2410 - 2000 + 19.074
Inventory on -hand = 410 + 19.074
Inventory on -hand = 429.074
In applying the high-low method, what is the fixed cost?
Month Miles Total Cost
January 80,000 $192,000
February 50,000 160,000
March 70,000 188,000
April 90,000 260,000
A. $35,000
B. $72,000
C. $28,000
D. $100,000
As a result, the high-low technique cannot be used since it implies a fixed cost that is negative. The negative fixed cost indicates that there could be other aspects of the cost outside the mileage that impact it. Therefore, none of the suggested solutions is the right one.
A mixed cost's fixed and variable components are estimated using the high-low technique. We must first determine the highest and lowest activity levels as well as their associated expenses before we can use the high-low technique. The variable cost per unit may then be determined by dividing the difference in total cost by the variation in activity levels.
Highest activity level: April, 90,000 miles, total cost of $260,000
Lowest activity level: February, 50,000 miles, total cost of $160,000
Using these data, we can calculate the variable cost per mile as:
Variable cost per mile = (Total cost at highest level - Total cost at lowest level) / (Highest activity level - Lowest activity level)
Variable cost per mile = ($260,000 - $160,000) / (90,000 miles - 50,000 miles)
Variable cost per mile = $100,000 / 40,000 miles
Variable cost per mile = $2.50 per mile
To calculate the fixed cost, we can use the formula:
Fixed cost = Total cost - (Variable cost per unit x Activity level)
Using the data for either the highest or lowest activity level, we get:
Fixed cost = Total cost - (Variable cost per mile x Activity level)
Fixed cost = $192,000 - ($2.50 per mile x 80,000 miles)
Fixed cost = $192,000 - $200,000
Fixed cost = -$8,000
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If Ju Li used a(n) ___________ approach to screening and evaluation, she would have employees evaluate the technical feasibility of selling the additive in addition to its bottled water products.
external
strengths analysis
potential threats
customer-driven
internal
If Ju Li used an internal approach to screening and evaluation, she would have employees evaluate the technical feasibility of selling the additive in addition to its bottled water products.
This approach would involve assessing the company's resources, capabilities, and potential threats before making any decisions. By involving internal stakeholders in the screening and evaluation process, Ju Li can ensure that the company is well-positioned to take advantage of new opportunities and can mitigate any potential risks.The internal approach to screening and evaluation involves evaluating the company's strengths and weaknesses, as well as any potential threats that could impact its success.
By conducting a thorough analysis of these factors, Ju Li can make informed decisions about whether or not to pursue the sale of the additive alongside its bottled water products.Overall, using an internal approach to screening and evaluation can help Ju Li make informed decisions about the future of the company. By involving internal stakeholders in the process, she can ensure that the company is well-positioned to take advantage of new opportunities and can mitigate any potential risks.
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Which of the following circumstances is most likely to reduce one's standard of living?
1. An increase in the cost of some goods such as escalating gasoline prices.
2. A decrease in the cost of some goods such as a decrease in housing prices.
3. Stable prices and an increase in employee wages.
4. Losing your job, but gaining a sizeable inheritance.
Answer:
1. An increase in the cost of some goods such as escalating gasoline prices.
Explanation:
The standard of living refer to a comfort level, the goods, and the material, necessities and wants that are available to a person
In case when there is a decline in standard of living so it is due to the increased in price as it reduced the purchasing power of the consumer
If the price of the goods increased, then the quantity demanded decreased as per the law of demand
Therefore in the given case, the option A is correct
Which is a better deal on a $200 item: 33% off original price or 20% off and additional 15% off at the register?
33% off original price
20% off and additional 15% off at the register
Answer:
Finding the original price given the sale price and percent discount
lisa shares a driveway with her neighbor. the driveway is on lisa’s property, but lisa allows her neighbor to use the driveway. what is this an example of?
The scenario in which Lisa shares her driveway with her neighbor exemplifies an easement.
An easement is a legal arrangement that allows someone to use another person's property for a specific purpose.
In this case, Lisa owns the driveway, but she has given her neighbor permission to use it.
This permission creates an easement for the neighbor. The easement may be formalized through a written agreement or it could be an informal arrangement.
However, it's important to note that an easement does not transfer ownership or exclusive rights to the neighbor.
Lisa still retains ownership of the driveway and can use it herself.
The neighbor's use of the driveway is limited to the agreed-upon purpose, which is likely for access to their own property.
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What can a boosted post help an advertiser achieve?
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
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Strictly speaking, a (n) ________ is an entry strategy for a single target country in which the partners share ownership of a newly created business entity.A) acquisitionB) licensingC) franchisingD) joint ventureE) exporting
Strictly speaking, a joint venture is an entry strategy for a single target country in which the partners share ownership of a newly created business entity.
What is a Joint Venture?A joint venture (JV) is a business arrangement in which two or more parties pool their resources to undertake a specific commercial venture. In comparison to a partnership arrangement, a joint venture is a short-term partnership formed for a specific purpose.
In the context of a joint venture, two or more businesses agree to work together in the creation of a third business entity that they both own and operate together. In addition, the parties that form a joint venture are typically unable to achieve their business objectives on their own.
What is a single target country?A single target country is a country that a business aims to enter and operate in. A single target country approach involves developing products and services for a single country or region, with no intention of expanding beyond the borders of that country.
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skipppy boop bom po part 2
Select the correct answer.
Which of these is an informal group?
A. command group
B. self-managed work group
C. task group
D. virtual group
E. interest group
Answer:
B
Explanation:
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Which solutions would be appropriate for everyone in both low financial wellness groups?
(multiple answers can be selected)
Answer:
Send information about the benefits of using an employer math for retirement
Explanation:
I got it right.
The solution that would be appropriate for everyone in both low financial wellness groups is to Send information about the benefits of paying credit card balances and avoiding emotional spending. This last option is correct.
What are low financial wellness groups?The low financial wellness group is referred to as a group that does not have higher financial stability and seeks challenges in managing their funds and cutting expenses and managing basic needs.
Financial wellness helps an individual to encourage the saving of their funds and cutting unnecessary expenses and timely repayment of debts of credit cards in order to avoid late fees or higher levels of interest.
In the given case, Sending information about the benefits of paying credit card balances and avoiding emoptional spending helps an individual with the appropriate solution.
Therefore, option last is appropriate.
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for a sales-type lease, a. the sales price includes the present value of the unguaranteed residual value. b. the present value of the guaranteed residual value is deducted to determine the cost of goods sold. c. the gross profit will be the same whether the residual value is guaranteed or guaranteed. d. none of these answers are correct.
The correct option is c. This means for the sales-type lease gross profit will be the same whether the residual value is guaranteed or guaranteed.
A finance lease in which the market rate value of the principal asset is not equivalent to its cost, resulting in a selling profit or loss, is referred to as a sales-type lease from the perspective of a lessor. An unguaranteed residual value, the current value of lease payments calculated using the implied interest rate, and the present value of the sales-type lease are recorded by the lessor as their net investment in lease at the lease's commencement date. It is recorded as a selling profit or loss if the market worth of the underlying asset exceed the carrying amount.
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think of one business establishment nearby. indentify the micro and macro environment factors that affect the business estabishment
the factors in the micro and macro environments that have an impact on the establishment of businesses are Variables in the microenvironment Factors in the macro environment, suppliers governmental.
What is meant by Business establishment?Any organization, regardless of structure, that provides the general public with goods, services, or lodgings is referred to as a business establishment.
An otherwise qualified establishment with membership requirements is deemed to provide services to the general public if its membership requirements are limited to the payment of fees or only include criteria that a sizable fraction of the city residents could satisfy.
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What is the main difference between a market and a command economy?
Answer:
Market economies utilize private ownership as the means of production and voluntary exchanges/contracts. In a command economy, governments own the factors of production such as land, capital, and resources. Most nations operate largely as a command or market economy but all include aspects of the other.
Mark believes he needs an minimum of two exposures for the campaign to be effective. What number of people will receive a minimum of two exposures if he places ads in both HSS and ACT in the same month
If he places ads in both HSS and ACT in the same month, the number of people who will receive a minimum of two exposures depends on the overlap between the two audiences.
By placing ads in both HSS and ACT, Mark is essentially targeting two different groups of people. The number of people who will receive a minimum of two exposures can be determined by identifying the individuals who are present in both audiences. This overlap represents the portion of the target audience that will be exposed to the campaign through both channels.
Mark needs to analyze the data on audience overlap between HSS and ACT. This can be done by comparing the demographics, interests, or any other relevant criteria of the audiences. By identifying the common individuals in both groups, Mark can determine the size of the target audience that will receive multiple exposures.
By conducting an analysis of the audience overlap, Mark can make an informed estimate and adjust his campaign strategy accordingly.
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What total amount of money would you have if you invested $5,000 at 2% interest for 3 years and the interest was calculated using the simple interest method? Use the simple interest example above as a guide to calculate simple interest, please show your work.
Answer:7,445.50
Explanation:
Answer:
simple Interest: $5,300.00
Annually Compounded Interest: 5,306.04
Explanation: Compound Interest means that you earn "interest on your interest", while Simple Interest means that you don't - your interest payments stay constant, at a fixed percentage of the original principal.
During a certain flight, passengers are allowed to carry a carry-on luggage into the airplane as long as the weight of the luggage does not exceed 5 kilograms. Determine which of the following items a
During a certain flight, passengers are allowed to carry a carry-on luggage into the airplane as long as the weight of the luggage does not exceed 5 kilograms.
The weight of a laptop is 3 kilograms, while a bag of chips weighs 0.5 kilograms. It can be determined that both the laptop and the bag of chips can be brought as carry-on luggage by the passengers.
According to the problem, the weight limit of carry-on luggage is 5 kilograms.
The laptop weighs 3 kilograms, and the bag of chips weighs 0.5 kilograms.
Therefore, the total weight of the luggage that can be carried on the airplane is (3 + 0.5) kilograms or 3.5 kilograms.
Since the weight of the luggage is less than the weight limit of 5 kilograms, both the laptop and the bag of chips can be carried on as carry-on luggage by the passengers. Hence, both items can be brought by the passengers.
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In order to maximize short-term operating income, Daniels Corporation should because the variable cost of outsourcing to FMS results in | of - - X Data table Outsource To Retain In-House FMS 9,500 147,000 Difference $ 9,500 147.000 Annual leasing fee for software Annual maintenance of trucks Total annual salaries of five laid-off employees Fleet Management Service's annual fee Total differential cost of outsourcing 185,000 300,000 185,000 (300,000) 41,500 341,500 $ 300,000 $ Print Done
To maximize short-term operating income, Daniels Corporation should outsource to FMS due to the lower total differential cost compared to retaining in-house operations.
Maximize short-term operating income?
In order to maximize short-term operating income, Daniels Corporation should outsource to FMS because the variable cost of outsourcing results in a lower total differential cost compared to retaining in-house operations. Here is the breakdown of the costs:
- Annual leasing fee for software: $185,000
- Annual maintenance of trucks: $300,000
- Total annual salaries of five laid-off employees: $185,000
- Fleet Management Service's annual fee: -$300,000 (since it is an outsourcing cost)
- Total differential cost of outsourcing: $341,500
By outsourcing to FMS, Daniels Corporation would incur a total differential cost of $341,500. On the other hand, if they were to retain in-house operations, the total differential cost would amount to $300,000.
Therefore, outsourcing to FMS would result in a higher short-term operating income, as the differential cost is higher when retaining in-house operations.
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how would Americans cover a $400 emergency? personal finance answers
Answer: Sixty-eight percent of all adults said they would have covered the expense exclusively using cash, savings or a credit card paid off at the next statement. One in 9 even reported they wouldn't be able to cover a $400 emergency expense whatsoever
Explanation:
question one please. thank you
Answer:
companies like Nike Inc have mission statements to attract the attention of the public .. thereby making it more easy to sell their products in the market
Which of the following decisions is most likely to create a temporary diseconomy of
scale? (Select the best answer.)
A)Buying supplies in bulk
B)Buying an expensive piece of machinery
C)Hiring employees who specialize
D)Using division of labor
Answer:
Buying an expensive piece of machinery
Explanation:
when a long-run average cost curve has a , are able to compete in the all that apply:flat bottom; fewer firms of different sizesflat bottom; more firms of different sizesdefinite minimum; fewer firms of different sizesdefinite minimum; more firms of different sizes
Option B) Flat bottom; more firms of different sizes. When a long-run average cost curve has a flat bottom, it indicates that firms of different sizes can compete in the market.
A flat bottom on the long-run average cost curve implies that economies of scale are exhausted or not significant, meaning that there is no significant cost advantage for larger firms. This allows firms of different sizes to operate efficiently and compete in the market. The absence of a definite minimum suggests that there is no optimal firm size, and firms can choose their scale of operations based on their individual strategies and market conditions.
Moreover, the presence of more firms of different sizes is likely in such a scenario because the absence of significant cost advantages for larger firms encourages market entry by smaller firms. This leads to a more competitive market structure with a larger number of firms, providing consumers with more choices and fostering competition and innovation.
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