Yes, I agree with this statement that the minimum wage in California is higher than required by law and should be reduced to the federal government level.
According to federal law, a minimum wage is the lowest salary an employee may be paid per hour. Nonexempt workers may not be offered a job or agree to work for less than the legally required minimum wage level for hourly compensation.
The state minimum wage rate in California is greater than the federal minimum wage rate, and all employers in California who are subject to both laws are required to pay it unless their employees are exempt under California law.
Government officials at all levels must endeavor to raise the minimum wage in order to combat poverty, provide economic security, and benefit workers. This would disproportionately benefit women and people of color who frequently make the federal minimum wage or less.
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suppose that the level of gdp increased by $100 billion in a private closed economy where the marginal propensity to consume is 0.80. aggregate expenditures must have increased by multiple choice $80 billion. $20 billion. $100 billion. $10 billion.
Aggregate expenditures must have increased by $80 billion. It is because the marginal propensity to consume is 0.80.
Aggregate expenditures can be defined as the sum of all the expenditures undertaken in the economy by the factors during a specific time period. The formula for aggregate expenditures is AE = C + I + G + NX, where (C) is equals to consumptions, (I) is equals to investments, (G) is equals to government spending, and (NX) is equals to net exports.
The marginal propensity to consume or also known as MPC is simply identified as the proportion of an aggregate raise in pay that a consumer spends on the consumption of services and goods, as opposed to saving it.
Marginal propensity = consumption function / change in disposable income
0,8 = consumption function / $100,000,000
Consumption function = $80,000,000 = $80 billion
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a new technological innovation occurs, and your firm chooses to adopt it. as a result of increased efficiency, five employees are no longer needed and are laid off by your firm. is wealth being created or destroyed by your firm's decision?
Wealth is being created with the technology but the labor is being destroyed by firm's decision.
Famous economists John Maynard Keynes and Wassily Leontief predicted technology unemployment would occur in the future decades ago. They believed that as robots replaced people, labor would become less significant. The analysis also took into account wage percentiles, gender, industry, and occupation. It was discovered that the effects on employment are concentrated in the manufacturing industries and are 1.5–2 times stronger for males than for women.
Except for administrative roles, all jobs experience negative consequences. Unsurprisingly, blue-collar occupations requiring frequent manual labor, such machinists, assembly workers, and transportation workers, have seen significant declines in employment. As a worker's education level rises, the negative effects become somewhat less severe, and for workers with doctoral degrees, there is no influence at all.
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consider the following statement and argue whether it is true or false: "if the national unemployment rate decreased at an annual rate of 3 % per year, then the rate decreased by 9 % over a 3 year period
No , think unemployment in number form for ex:100 if year 1 unemployment rate is 3% means 3. This doesn't mean coming 2 year 3% is 3. its 2.91 right .
Consider the following statement and decide whether it is true or false: "If the national unemployment rate declined at a 3% yearly rate, then the rate decreased by 9% over a three-year period."
Unemployment is the state of being capable of working, actively looking for job, but unable to find any. It is vital to highlight that in order to be termed unemployed, a person must be an active part of the labour force and actively seeking remunerative work.
Time period (plural time periods) The length of time during which an activity occurs or a condition remains. It may be measured either in seconds or in millions of years, depending upon the nature of the activity of condition being considered.
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associated breweries is planning to market alcohol-free beer. to finance the venture, it proposes to make a rights issue at $11 of one new share for each three shares held. (the company currently has outstanding 300,000 shares priced at $39 a share.)
The number of new shares, the amount of new investment and the total value of company after issue are 50,000, $500,000 and $4,500,000.
Units of equity ownership in a firm are called shares. For certain businesses, shares are a kind of financial property that guarantee an equitable dividend distribution of any declared residual earnings. A company that does not pay dividends does not distribute its income to its shareholders. Instead, they look forward to further stock price appreciation and rising business earnings.Calculate the number of new shares.Number of new shares = Shares outstanding × [tex]\frac{1}{2}[/tex]
=100,000 × [tex]\frac{1}{2}[/tex]
= 50,000
Therefore, the number of new shares is 50,000.
Calculate the amount of new investment.Amount of new investment = Number of new shares × Price of each
Share
= 50,000 × $10
= $500,000
Therefore, the amount of new investment is $500,000.
Calculate the total value of company after issue.Total value = (100,000 × $40) + (50,000 × $10)
= $4,000,000 + $500,000
= $4, 500,000
Therefore, the total value of company after issue is $4,500,000.
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Associated Breweries is planning to market alcohol-free beer. To finance the venture it proposes to make a rights issue at $10 of one new share for each two shares held. (The company currently has outstanding 100,000 shares priced at $40 a share.) Assuming that the new money is invested to earn a fair return, give values for the following: a) number of new shares, b) amount of new investment, c) total value of company after issue, d) total number of shares after issue, e) stock price after the issue, f) the rights issue will give the shareholder the opportunity to buy one new share for less than the market price. What is the value of this opportunity?
Describe the resources you plan to use or provide to ensure the beneficiary has adequate financial support to cover their basic living needs.
Writing a will, choosing beneficiary designations, and establishing a trust are the primary controls over how your estate's assets are distributed. 1) Make a Will 2. Make your beneficiary and property ownership choices. 3. Set up a Trust, 4. Tax Considerations.
The majority of beneficiary designation forms will ask for a person's full legal name and relationship to you (spouse, child, mother, etc.). Other details including a beneficiary designation's mailing address, email address, phone number, date of birth, and Social Security number may also be included.
The individual or organization designated as a beneficiary in a life insurance policy, retirement plan, or health savings account. This person is the one who inherits the benefit after death. When it comes to the payment of your benefits, the beneficiary designation that was on record at the time of death is final.
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An operating cycle is the length of time it takes to convert inventory to accounts receivable plus the time it takes to convert the account receivable back to cash. This statement is.
The time it takes for a business to purchase items, sell them, and get payment for those sales is referred to as an operating cycle.
It is, in other words, the time it takes for a business to convert its inventories into cash. Depending on the sector, an operational cycle can be any length. The following components make up the operating cycle: includes the average collection period (365 days/accounts receivable turnover ratio) plus the days' sales in inventory (365 days/inventory turnover ratio). The amount of days that pass between the time you buy goods and the time customers pay for it is known as the operating cycle. The amount of days between when you purchase inventory and when you get payment from your clients is known as the cash conversion cycle. The accounts receivable, inventory, and accounts payable cycles are examined in terms of days by the operational cycle. In other words, the average number of days it takes to collect an account is used to examine accounts receivable. The days needed for a business to receive inventory, sell the goods, and collect money from the sale of the inventory are referred to as an operating cycle. This cycle is crucial in evaluating how effectively a business operates. It is the period of time between paying suppliers in cash and collecting payment from customers. The operational cycle would be lengthened by which of the following? easing loan conditions and giving clients more time to pay.
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after a recent 140-day strike, the union members in california went back to work at area grocery stores. the union negotiated raises, better health care benefits, and a one-tier pay scale. the union may best be described as a(n) .
After a 140-day strike, the union negotiated raises, better health benefits and a one-step pay scale. the union can best be described as a stakeholder.
A stakeholder is a party with an interest in a business that can impact or be affected by that business. Investors, employees, clients, and suppliers make up the majority of stakeholders in a typical business. However, the idea has expanded to include communities, governments and business groups as corporate social responsibility has attracted more and more attention. The company can include both internal and external stakeholders. People who have a direct interest in the company, for example through employment, ownership or investment, are considered internal stakeholders. External stakeholders are those who do not work directly for the company, but are nevertheless affected in some way by the decisions and results of the business. External stakeholders include vendors, borrowers, and government agencies.
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Market researchers often report discretionary income. Discretionary income is your disposable income minus your fixed expenses. Your disposable income is $2,920. After you pay fixed expenses of rent, utilities, groceries, and a car payment, you have $900. What percentage of your disposable income is discretionary?.
Market researchers often report discretionary income. Discretionary income is your disposable income minus your fixed expenses. Your disposable income is $2,920. After you pay fixed expenses of rent, utilities, groceries, and a car payment, you have $900. 18% of your disposable income is discretionary.
Market A mechanism whereby commodities and services are exchanged as a result of buyers and sellers coming into contact with one another, either directly or through institutions or agents that operate as middlemen.
Markets are location where goods are bought and sold in the strictest sense. However, in the current industrial system, the market is no longer a physical location; rather, it has grown to encompass the entire geographic area in which vendors compete with one another for customers. For a long time, English-speaking economists looked to Alfred Marshall, whose Principles of Economics (first published in 1890), for guidance. Marshall based his definition of the market on that of the French economist A.
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a customer purchases 200 shares of xyz at 17.50 and writes 2 xyz jan 20 calls at 1. at expiration, with the stock trading at 19, the options expire wo
If the customer sells his long stock at the current market price, the gain is $500. The customer purchases stock at 17.50 and sells it at 19 for a $300 profit. Also, the customer keeps the $200 in premiums.
The value of the long stock listed on customer's trading account is the value of the stocks he owns. It makes no difference if he has purchased the shares for just a day or two or for several years in this case; his shareholding is all about long stock value.
Having a "long" position in a security implies that you own it. Investors hold "long" security positions in the hope that the stock's value will rise in the future. A "short" position is the inverse of a "long" position.
Here is the complete question-
A customer purchases 200 shares of XYZ at 17.50 and writes 2 XYZ Jan 20 calls at 1. At expiration, with the stock trading at 19, the options expire worthless. If the customer sells his long stock at the current market price, the gain is:
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the following data represent the living situation of newlyweds in a large metropolitan area and their annual household income. what percent of people who own their own home make between $35,000 and $50,000 per year? round to the nearest tenth of a percent
The data represents the living situation of newlyweds in a large metropolitan area and their annual household income. So, around 17.4% people who own their own home make between $35,000 and $50,000 per year.
Consider the provided table.
Here, we need to find the percent of people who tends to own their own home and so they make between $35,000 and $50,000 per year.
Then add the number of people from the given data who own their home in a large metropolitan area and their annual household income.
Own home: 31 + 52 + 202 + 355 + 524 = 116.
Now, the number of people who own their own home make between $35,000 and $50,000 per year is 202.
= 202 / 1164 × 100
= 0.17354 × 100
= 17.4%
Hence, around 17.4% people who own their own home make between $35,000 and $50,000 per year.
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_______ data encompasses all raw facts contained within a single process and its purpose is to support daily operational tasks.
Answer:
Transactional
Explanation
Transational data encompasses all raw facts contained within a single process and its purpose is to support daily operational tasks.
Pls Mark As Branilest
a loose group of employees become tightly bonded after a competition in which they beat other teams and this increases their willingness to work together.
An example of a Group cohesiveness is when a loose group of employees become tightly bonded after a competition in which they beat other teams and this increases their willingness to work together.
What is a Group cohesiveness?It is also known as a group cohesion and social cohesion. This cohesiveness arises when bonds link members of a social group to one another and to the group as a whole. Even though a cohesion is a multi-faceted process, it can still be broken down into four main components such as a social relations, task relations, perceived unity and emotions.
In conclusion, a group cohesion means an extent to which group members are attracted to the group, its goals and can as well consist of feelings of interpersonal liking, task commitment and group pride.
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Goals and objectives provide a form of control since they create a feedback opportunity regarding how well or how poorly the organization is executing its strategy. True of false?.
The statement 'goals and objectives provide a form of control since they create a feedback opportunity regarding how well or how poorly the organization is executing its strategy' is true.
Goals and objectives are the targets that a company or organization tries to achieve. Strategies are set in order to reach the goals and objectives of the workers of an organization.
These goals and objectives help in maintaining the wellness of work by the company. The goals and objectives set help a business determine whether the strategies applied are being executed properly or not and whether they are proving to be effective.
Based on the goals and objectives, feedback is generated based on the execution of strategies.
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darwin is considering opening a new manufacturing facility for his company. his sister suggests that he spend some time considering where to locate the new building. why is location an important consideration when building a new facility? multiple choice
Certain industries may have special zones that offer a range of advantages, including tax exemptions for particular businesses and manufacturing procedures.
What is manufacturing?
Manufacturing is the process of creating or producing goods with the aid of resources such as machinery, labour, tools, chemicals, or biological formulations. It is the core of the economy's secondary sector. The phrase can be used to describe a variety of human endeavours, from handicraft to high-tech, and yet it is most frequently used to describe industrial design, which entails the massive transformation of raw materials from primary sector into finished goods. Such products may be distributed through the tertiary industry to final users and consumers or sold to the other manufacturers for the creation of other, more complex products.
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apple created an entirely new brand that started with the ipod and evolved into different product categories (e.g., iphone, ipad) before anyone else could catch on. thus, apple was the
Apple was First mover, which made the firm easily recognizable to consumers, helping to gain an early market share lead.
On August 2, 2018, Apple made history by becoming the first publicly listed U.S. firm to have a market capitalization of $1 trillion.
By becoming the first American business to attain a $2 trillion market valuation in August of 2020, the corporation set new milestones once more. As of the beginning of October 2020, Apple (AAPL) lingered slightly below that mark. Apple has been among the most valuable firms in the world since 2010.
After then, it remained there for a long time. On the surface, there is little mystery as to why Apple is so highly valued: the corporation creates popular goods with significant profit margins. But if a reader is intrigued enough to go a little farther, they will discover errors, ousted CEOs, and much more.
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Which inventory valuation method assigns a value to the inventory on the balance sheet that approximates current cost and also mimics the actual flow of goods for most businesses?.
In addition to simulating the real flow of goods for the majority of businesses, the FIFO inventory valuation method places a value on the inventory on the balance sheet that is close to current cost.
First In, First Out, also referred to as FIFO, is an asset management and valuation strategy in which the first assets created or purchased are utilized, sold, or disposed of.
FIFO presupposes that the cost of goods sold on the income statement includes the assets with the businesses oldest costs for tax purposes (COGS). The remaining inventory assets are compared to the ones that were made or bought most recently.
Cost flow assumptions are made using the FIFO approach. The related costs with a product must be recorded as an expense in manufacturing as it advances to subsequent phases of development businesses and as final inventory units are sold.
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Given an industry is producing the socially efficient output level, a tax placed on the industry will result in inefficiency because the market will produce.
Too few units, giving up some units that have more consumer value than productive costs, and a tax placed on the industry will result in inefficiency because the market will produce.
A tax imposed on an industry that is already producing at a level that is socially efficient would lead to inefficiency since the market will still produce.
industry: a collective of profitable businesses or establishments that create or provide products, services, or sources of income. Industries are typically categorized in economics as primary, secondary, tertiary, and quaternary; secondary industries are additionally categorized as heavy and light.
Resources are not being used to their full potential when there is inefficiency. The term "inefficiency" is used frequently in economics to describe a variety of phenomena.
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ufa was successful because it spent lavishly to produce films outside of germany due to the beneficial exchange rate of the german currency after wwi.
It is untrue that UFA failed as a result of wasteful spending on films produced outside of Germany due to the favorable exchange rate of the German mark following World War One.
A currency's exchange rate is the cost at which two different currencies can be converted between two different countries UFA or economic regions. It is used to calculate the value of different currencies in relation to one another and is crucial in figuring out how trade and capital flows operate.
A country's trade and the flow of money between nations are impacted by the exchange rate, which is the rate at which one currency will be exchanged for another.
The economic activity, market interest rates, gross domestic product, and unemployment rate in each of the countries are frequently used to calculate the exchange rate between two currencies. They are sometimes referred to as market exchange rates and are determined in the 24-hour currency trading that takes place UFA between banks and other financial institutions on the international financial market. Rate adjustments might happen hourly, daily, in big incremental shifts, or both.
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jeanine is a member of a labor union and was recently disciplined and fired by her employer. according to jeanine’s employer, jeanine failed to comply with the company safety rules and also violated the company’s policy on the use of social media. ultimately, jeanine was terminated. however, she later won a court case that resulted in her being reinstated with back pay when it came to light that the employer had violated jeanine’s
The violation that has been done to Jeanine based on the question that we have here is what is called the Weingarten.
What is the Weingarten right?This is the term that right that has to do with the fact that an employee of a company has the right to union representation when they are undergoing an investigative process.
The company that she works for has violated this right that she has based on the labor laws and the employee rights that she has as a worked in the American society. Hence the correct solution is the Weingarten right.
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complete question
Jeanine is a member of a labor union and was recently disciplined and fired by her employer. According to Jeanine’s employer, Jeanine failed to comply with the company safety rules and also violated the company’s policy on the use of social media. Ultimately, Jeanine was terminated. However, she later won a court case that resulted in her being reinstated with back pay when it came to light that the employer had violated Jeanine’s rights by declining her request to have union representation during the investigation and questioning process.
a)Garrity
b)Weingarten
c)Miranda
d)Fairchild
marketers must be aware that because firms are introducing products at a faster rate, a general trend in marketing is that product life cycles are getting .
Marketers must be aware that because firms are introducing products at a faster rate, a general trend in marketing is that product life cycles are getting shorter.
Who is a marketer?This is the person that has the responsibility of creating a relationship that would have to exists between a product and the consumers of that particular product.
The marketers have to be made aware that due to the trend of having to introduce the products much faster than it used to be, that the life cycles of these products are likely to have become shorter than what it was known to be.
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comparison of the minimum wage and the median wage can be used to estimate the extent to which unemployment results from minimum wage laws. all else equal, which scenario would result in the most unemployment?
The correct answer is (d), A country where the minimum wage is set at 95% of the median wage, in this scenario there will be the highest unemployment.
An increased minimum wage tends to affect an ever-increasing segment of the population. In this particular instance, the biggest chunk of the employment market will be influenced by a minimum wage set at 95percentage points of the median wage, which again will result in more unemployment compared to the other option.
An employer may not legally sell their labor for anything less than the minimum wage, that is the lowest remuneration an employer may offer their employees. Because minimum wages increase the cost of laborer, companies regularly use seasonal workers, redeploy their workers to territories with lower or no minimum wage laws, or optimize work duties in order to circumvent minimum wages.
The complete question is here:
Comparison of the minimum wage and the median wage can be used to estimate the extent to which unemployment results from minimum wage laws. All else equal, which scenario would result in the most unemployment?
a. A country where the minimum wage is set at 1% of the median wage.
b. A country where the minimum wage is set at 10% of the median wage.
c. A country where the minimum wage is set at 60% of the median wage.
d. A country where the minimum wage is set at 95% of the median wage.
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which of the following statements is true of attitudes? a.attitudes motivate people to behave in inconsistent ways. b.attitudes and value are closely related. c.attitudes do not affect the choice of products. d.negative attitudes do not have a profound effect on consumers.
About attitudes, the true statement is letter b. attitudes and value are closely related.
What is attitude?It can be defined from a psychological concept, which relates the attitudes of individuals as a judgment developed according to their beliefs and values that leads them to develop a certain behavior.
Therefore, attitude and value are related because value influences the formation of the type of attitude that the individual will have, that is, according to their set of values, the individual will have a certain intention that will be transformed into a type of behavior.
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mountain high ice cream company transferred $60,000 of accounts receivable to the prudential bank. the transfer was made with recourse. prudential remits 90% of the factored amount to mountain high and retains 10% to cover sales returns and allowances. when the bank collects the receivables, it will remit to mountain high the retained amount (which mountain estimates has a fair value of $5,000). mountain high anticipates a $3,000 recourse obligation. the bank charges a 2% fee (2% of $60,000), and requires that amount to be paid at the start of the factoring arrangement.
The journal entry is as follows-
Receivable from factor $3.800 {$5,000 - ($60,000 × 0.20)}
To Accounts receivable $60,000
Journal entry:
Cash $54,000 ($60,000 - $60,000 × 10%)
$2,200 loss on receivables sale
Receivable from factor $3.800 {$5,000 - ($60,000 × 0.20)}
To Accounts receivable $60,000
(Because the transfer is being recorded)
Because 90% is remitted and 10% is retained, 10% is considered, and the receivable amount should be considered after the 2% fee shown above.
Here is the complete question-
Mountain High Ice Cream Company transferred $60,000 of accounts receivable to the Prudential Bank. The transfer was made without recourse. Prudential remits 90% of the factored amount to Mountain High and retains 10%. When the bank collects the receivables, it will remit to Mountain High the retained amount (which Mountain estimates has a fair value of $5,000) less a 2% fee (2% of the total factored amount).
Required:
Prepare the journal entry to record the transfer on the books of Mountain High assuming that the sale criteria are met. (If no entry is required for a particular event, select "No journal entry required" in the first account field.)
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chegg an individual who has a steady source of income and a reasonable chance to repay debts would choose chapter 13 rather than chapter 7 of the u.s. bankruptcy code. question 5 options: true false
True, An individual has the chance to submit a plan of reorganisation under Chapter 13 of the United States Bankruptcy Code and not under chapter 7.
In order to offer a chapter 13 plan that addresses all of their different classes of creditors, a person must have a regular source of income. As long as a chapter 13 plan satisfies the necessary standards under chapter 13, the bankruptcy court has the authority to accept it without the consent of creditors.
People who file for Chapter 13 bankruptcy—also referred to as a "wage earner's plan"—pay an assigned, unbiased trustee a predetermined monthly sum.
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Complete Question: (True/False) Individual who has a steady source of income and a reasonable chance to repay debts would choose Chapter 13 rather than Chapter 7 of the U.S. Bankruptcy Code.
Both bonds payable and notes payable are obligations that usually arise from borrowing money. This statement is?.
Both bonds payable and notes payable are obligations that usually arise from borrowing money. This statement is True.
A bond is a debt safety, similar to an IOU. debtors problem bonds to elevate cash from buyers willing to lend them cash for an effective amount of time. while you buy a bond, you are lending to the issuer, which may be a government, municipality, or agency.
let's see an example of approaches a bond works: organization XYZ issues a 10-yr bond with a face fee of $10,000 and a discount price of five%. The investor has the same opinion to buy that bond beneath the condition that the business enterprise can pay $500 every 12 months (in the hobby) over a ten-12 month duration.
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3) After Christmas season was over, a store owner noticed that his store did not
sell as many computers as he had hoped. What might he do to the price of his
computers?
variable inputs are defined as any resource that: group of answer choices varies with the size of the firm's plant. cannot be changed as output changes can be changed as output changes. can be increased or decreased hourly.
Variable inputs are defined as any resource that Can be changed as output changes.
A Which of the subsequent are examples of charges that don't range with adjustments in output. These aren't suffering from the quantity of produced output. Examples of constant charges are rent, strength bill, depreciation on machinery, land prices, and more. All those prices arise even if output is zero variable price is a company rate that adjustments in percentage to how a good deal a business enterprise produces or sells. Variable charges growth or lower relying on a business enterprise's manufacturing or income volume—they upward push as manufacturing will increase and fall as manufacturing decreases.
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recently, a series of studies have demonstrated the considerable beneficial health effects of food and drink derived from the amaranth plant. this has affected consumer tastes for amaranth flour, pods, root, etc. at the same time, particularly favorable weather has resulted in a bumper crop of amaranth plants.
The demand and supply curves are both trending right. The equilibrium amount rises, but the price effect is uncertain. This is further explained below.
What is the equilibrium?Generally, Now that the flavors and preferences of the Amarnath plant and the goods made from it have been enhanced, we may expect to see a rise in demand, which will cause the demand curve to move to the right.
The supply curve for Amarnath plants has moved to the right as a result of the bumper crop output, which may be seen as an indication of increased availability.
As a consequence of this, there has been a rise in the quantity, but the impact on the price is unclear.
Conclusion, It has come to our attention that both the demand curve and the supply curve are moving in the same direction, namely, to the right.
As a consequence of this, the amount at equilibrium increases, but the impact on price is unclear.
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If an employer decides to pay certain workers less than the federal minimum wage, because the workers were lazy and shirked their duties, the employer would be in violation of.
If an employer decides to pay certain workers less than the federal minimum wage, the employer would be in violation of law.
What is the Federal Minimum Wage?Corresponds to the minimum stipulated value of US$7.25 per hour of work in the United States, this being a law to protect workers and employers in relation to labor rights and duties.
In the case of the issue, for example, where workers did not fulfill their contractually stipulated duties, the employer should not reduce wages below those stipulated by the states and the American federation, but rather use other instruments to reduce negative behavior, such as warnings and dismissals.
Therefore, as provided by law, employers who violate the federal minimum wage law are liable to pay civil fines amounting to $1,000.
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Economic arguments for trade policy intervention are concerned with protecting the interests of certain groups within a nation, often at the expense of other groups, or with achieving some objective that lies outside the sphere protecting the environment or human rights. True or false?.
This is false that Economic arguments for trade policy intervention are concerned with protecting the interests of certain groups within a nation, often at the expense of other groups, or with achieving some objective that lies outside the sphere of protecting the environment or human rights.
Protecting the interests of some groups within a country (typically producers), frequently at the expense of other groups (typically consumers), or achieving some political objective that lies outside the sphere of economic relationships, such as protecting the environment or human rights, are Economic arguments for intervention.
Economic arguments for intervention often focus on increasing a country's total prosperity (to the benefit of all, both producers and consumers). The set of agreements, rules, and procedures that a government uses to influence commerce with other nations is known as trade policy. Every country sets its own requirements for trade, including its tariffs, subsidies, and rules.
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