Answer: A country where minimum wage is set at 1% of median wage.
Explanation:
The minimum wage is the lowest income that employers can pay their employees.
The median wage is the midpoint of wages earned by workers in the society. Workers who earn median wage implies that half of the workers in the economy earn more than them and the remaining half less than them.
From the portions given, unemployment will mostly occur in a country where minimum wage is set at 1% of the median age. For example let's assume the median age is $10 per hour in the United States. This implies that minimum wage will be $0.1. Nobody will really want to work for an amount which is so low which in turn, leads to great unemployment.
Answer:
the opportunity cost of holding the checking account as money is 1%
Explanation:
The computation of the opportunity cost of holding the checking account as money is shown below:
= Interest rate on the government bond - interest rate on checking account
= 2% - 1%
= 1%
Hence, the opportunity cost of holding the checking account as money is 1%
We simply applied the given formula so that the correct percentage could come
The purpose of balancing or monitoring your account is to make sure that your money stays safe and that your account is safe from any stolen information. If you were to find any signs of stolen identity or money from your account, you would be able to report the problem earlier instead of unknowingly have this happen and find out many weeks later what is happening to your account.
Approximately 80 percent of the united states labor force is involved in providing services.
