All categories

1 year ago

How will an increase in labor productivity affect equilibrium in the labor market?

1 answer:

8 0

We can actually infer here that an increase in labor productivity will affect equilibrium in the labor market in the following way: The demand for labor will increase and the equilibrium wage and quantity of labour will increase.

<h3>What is equilibrium?</h3>

Equilibrium refers to the state whereby opposing things are balanced in order to achieve a desired outcome.

If the labor productivity is increased, it will definitely affect equilibrium in the labor market in such a way that the demand of labor will increase.

Learn more about equilibrium on brainly.com/question/517289

#SPJ11

You might be interested in

Analyze the effectiveness of Postbellum policies by explaining if Reconstruction succeeded or failed in the areas of Economics –

zlopas [31]

Reconstruction refers to the period of American history that followed the Civil War. During this time period, the country attempted to recover from the damage of the war. It also attempted to integrate former slaves into mainstream society.

Although Reconstruction was not a complete success, I consider that it was still an effective way to achieve long-lasting change. The Reconstruction allowed the rebuilding of the economy by integrating the former slaves into the labor force. It also forced employers or landowners to pay their black workers. Reconstruction helped the black population of the country enjoy the rights and freedoms that they were able to achieve.

3 0

3 years ago

Vextra Corporation is considering the purchase of new equipment costing $43,500. The projected annual cash inflow is $12,700, to

Ksju [112]

Answer:

Year Cashflow [email protected]% PV

$ $

1 12,700 0.8929 11,339

2 12,700 0.7972 10,124

3 12,700 0.7118 9,040

4 12,700 0.6355 <u>8,071</u>

Present value of annuity <u>38,574</u>

Explanation:

In this case, there is need to discount the cashflow for each year at 12%. then, we will add the present values of cashflows in order to obtain the present value of annuity.

3 0

3 years ago

Operations management is applicable:

REY [17]

Answer:

b) To the manufacturing sector exclusively.

Explanation:

Operations management

It is one of the administration of the business practice , which enable to create very high efficiency within the organisation .

This administration is concerned with converting the labor and the material into services and goods , in order to maximize the profit of the organization .

The operations management team attempt to balance out the cost with the revenue in order to get the highest net operating profit possible .

It is exclusive to the manufacturing sector only .

4 0

3 years ago

I really need help, What are the five foundations? Include purpose/ importance of each step

omeli [17]

Answer:

Management, Operations, Marketing, Accounting, Finance

Explanation:

-Management: planning and knowing your business resources to achieve it's goals

-Operations: The transformation of resources into goods/products, making sure the goods are high quality

-Marketing: Identifies customer's needs, develop and decide the price and quality of products

-Accounting: financial and managerial information. Accountants work to communicate finance information to managers

-Finance: Obtaining and managing a companies funds. Who gets/needs money, and how much do they get

4 0

3 years ago

Prepare journal entries to record the following transactions for the village of Radnor. Classify the expenditures as Parks suppl

zzz [600]

Answer:

A. Dr Encumbrances $14,000

Cr Budgetary fund balance $14,000

B. Dr Budgetary fund balance $8,000

Cr Reserved for encumbrances Encumbrances $8,000

Dr Expenditures – Park supplies $8,300

Cr Voucher payable $8,300

C. Dr Budgetary fund balancereserved for encumbrance $6,000

Cr Encumbrances $6,000

Dr Expenditures – Parks supplies $5,800

Cr Vouchers – payable $5,800

D. Dr Voucher payable $8,300

Cr Cash $8,300

Explanation:

Preparation of Journal entries

A. Dr Encumbrances $14,000

Cr Budgetary fund balance $14,000

($8,000+$6,000)

B. Dr Budgetary fund balance $8,000

Cr Reserved for encumbrances Encumbrances $8,000

Dr Expenditures – Park supplies $8,300

Cr Voucher payable $8,300

C. Dr Budgetary fund balancereserved for encumbrance $6,000

Cr Encumbrances $6,000

($14,000-$8,000)

Dr Expenditures – Parks supplies $5,800

Cr Vouchers – payable $5,800

D. Dr Voucher payable $8,300

Cr Cash $8,300

3 0

2 years ago