Markets seek equilibrium, and the demand for goods and services will come to an equilibrium with supply of goods and services. When markets are not in equilibrium, surpluses and shortages, as well as underground markets, can exist. Sometimes, the government may want to intervene in markets to try to help reduce economic hardships.
Analyze the impact of an increase in the minimum wage from the current level to $15 per hour. How would the following be affected?
a. employment of people previously earning less than $15 per hour
b. the unemployment rate of teenagers
c. the availability of on-the-job training for low-skilled workers
d. the demand for high-skilled workers who are good substitutes for low-skilled workers
Review the mechanics of price floors and price ceilings. Why does a price floor lead to surpluses? Why does a price ceiling lead to shortages? Review consumer and producer surplus. A price floor will lead to a transfer of consumer surplus to producer surplus; a price ceiling will lead to a transfer of producer surplus to consumer surplus; both price regulations lead to deadweight losses, which is a loss of surplus to society. Why?
Answers: 2
Business, 22.06.2019 01:20
As a project manager for a large construction company, shaun decided to make the performance appraisal process as painless as possible for his crew. he spent a considerable amount of time creating performance standards he felt were reasonable, and after six months' time, he scheduled individual appointments with each worker to discuss strengths and weaknesses and areas that needed improvement according to the standards he privately set. some employees were sent to vestibule training, and one even got a promotion with additional compensation. what did he fail to do correctly
Answers: 2
Business, 22.06.2019 17:00
Zeta corporation is a manufacturer of sports caps, which require soft fabric. the standards for each cap allow 2.00 yards of soft fabric, at a cost of $2.00 per yard. during the month of january, the company purchased 25,000 yards of soft fabric at $2.10 per yard, to produce 12,000 caps. what is zeta corporation's materials price variance for the month of january?
Answers: 2
Business, 22.06.2019 22:30
Perry is a freshman, he estimates that the cost of tuition, books, room and board, transportation, and other incidentals will be $30000 this year. he expects these costs to rise about $1500 each year while he is in college. if it will take him 5 years to earn his bs, what is the present cost of his degree at an interest rate of 6%? if he earns and extra $10000 annually for 40 years, what is the present worth of his degree.?
Answers: 3
Business, 23.06.2019 02:00
People-focused workplace (connect, perform) organizations are undergoing changes in response to more people-driven workforces. use your knowledge of bossless workplaces to identify each of he following characteristics as either a challenge or benefit to this new style of workplace. resource allocation decision making training costs
Answers: 2
Markets seek equilibrium, and the demand for goods and services will come to an equilibrium with sup...
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