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german
2 years ago
13

Consider a competitive labor market. Using the model of how income is determined in a labor market, describe the effects on wage

s and number of individuals employed of an increase in the productivity of labor in that market. What will happen and why? In your answer, be sure that you describe why the supply and demand curves are shaped as they are.
What would happen to wages and number of individuals employed in that market if new law required all businesses in that market and other markets to provide their employees a better health insurance policy? Why? Use your analysis to explain who actually pays the costs of health insurance premiums in competitive labor markets.
Business
1 answer:
adelina 88 [10]2 years ago
3 0

If there is an increase in labor productivity, there will be an <u>increase </u>in wages and an <u>increase </u>in individuals employed.

If better insurance policies are mandated by the government then wages and the number of people employed will <u>both decrease</u>.

This shows that the entity that actually pays the costs of health insurance premiums is <u>employers</u>.

<h3>What happens when labor productivity rises?</h3>

When there is an increase in labor productivity, employers will demand more employees in order to produce more. This will shift the labor demand curve to the right.

The new intersection of the demand curve with the supply curve will see an increase in the wage rate and in the quantity of those employed in the labor market.

<h3>What happens if better insurance policies are imposed?</h3>

If the government mandates that employers should provide better insurance policies, it means that employers will start paying more in insurance premium contributions.

This increased cost of labor will lead to employers demanding less employees which will lead to a decrease in the wage rate and in the number of those employed.

This shows that employers are mostly the ones who pay for health insurance premiums which is why an increase in these premiums will increase the cost of labor for them.

Find out more on the labor market at brainly.com/question/4389927.

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Answer:

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4 0
3 years ago
Shaw Company sells goods that cost $300,000 to Ricard Company for $410,000 on January 2, 2017. The sales price includes an insta
Shkiper50 [21]

Answer:

The revenue from sales to be recognized by Shaw is $390,000

Explanation:

A) Journal entry to record the sale on January 2, 2017

Date                               Particulars                      Debit        Credit

January 2, 2014      Accounts Receivable         $410,000

                                Sales Revenue                                      $370,000

                                 Unearned Service Rev                         $40,000

Being the recording of sales and unearned service revenue

                                Cost of Goods Sold            $300,000

                                 Inventory of Merchandise                       $300,000

B) Shaw should recognise the following Revenue from Sales to Ricard

Sales Revenue                                                        $370,000

Service Revenue (3/6 x $40,000)                            <u>$20,000</u>

Due to the fact that accounts end March 31st,       $390,000

2017, only 3 months will be accounted for under

service revenue for the year

Therefor the revenue from sales to be recognized by Shaw is $390,000

5 0
3 years ago
A country that has a highly specialized economy is most likely to experience
bazaltina [42]

It does not produce all the essential goods its people need would be the correct statement.

<h3>What is a specialization economy?</h3>

Specialization economy is the economy, which focus only on one task rather on focusing so many tasks in a single time.

It is one of  the most efficient economy, because it consumes very less money and time in the manufacturing of the goods.

The specialization economy may also benefits in the international trade.

Learn more about the specialization economy here:-

brainly.com/question/4143783

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4 0
2 years ago
All financial intermediaries are authorized depository institutions by APRA to carry out financial intermediation
VladimirAG [237]

Answer:

The correct answer is the option: True.

Explanation:

First of all, the<em> Australian Prudential Regulation Authority</em> or APRA is the name given to an independent statutory authority whose main purpose is to regulate and supervise institutions across banking, insurance and superannuation and promotes financial system stability in Australia.

Secondly, <em>authorized deposit-taking institutions</em> are those financial institutions that are permitted to accept deposits from the public in Australia and <u>all financial intermediaries that are registered are authorized to carry out financial intermediation</u>.

7 0
3 years ago
The transparency of competitive advantage refers to the extent to which
kolbaska11 [484]
The transparency of a competitive advantage refers to the extent to which COMPETITORS CAN IDENTIFY THE REASONS FOR THE COMPETITIVE ADVANTAGE OF ANOTHER COMPANY.
The transparency refers to the speed at which other companies can identify and understand the relationship of resources and capabilities that is supporting a successful company strategy.
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2 years ago
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