Answer:
A. Equilibrium Wage : Fall , Equilibrium Employment : Increase
Explanation:
Labour Demand (by producers) & Labour Supply (by workers) are analogous to commodity demand (by consumers) & supply (by producers) by consumers at various prices (wages).
Labour Demand Curve is downward sloping due to wage , demand inverse relationship - more demand at lower wages & vice versa.
Labour Supply Curve is upward sloping (upto a point) due to wage , aupply inverse relationship - more supply at higher wages & vice versa.
If Labour supply increases , curve shifts to the right : It will create excess supply of that labour, which will create competition among sellers (labourers) & reduce wage rate and at the new reduced wage rate , the labour demand will be more . So , the new equilibrium will be established at lowered wage rate , more employment.
Answer:
Overhead= $6,000
Explanation:
Giving the following information:
Job 403:
Direct material= $40,000
Total manufacturing costs = $50,000
Boxer applies overhead at 150% of direct labor cost.
Total manufacturing costs= direct material + direct labor + allocated overhead
50,000= 40,000 + (direct labor + allocated overhead)
(direct labor + allocated overhead)= $10,000
<u>We know that overhead is 50% higher than direct labor. In 100%, direct labor would de 40% and overhead 60%.</u>
direct labor=10,000*0.4= $4,000
Overhead= 10,000*0.6= $6,000
The population is the 10,900 respondents to the American Time Use Survey.
Explanation & Solution:
Statistics indicate that a large number of findings with similar features are related to in the population.
A sample is a subset from which it has been extracted.
"The American Time Usage survey for 2015 provides details about how many minutes of sleep every evening are assigned to each of 10,900 survey respondents.
An SRS of 100 participants (a plain random sample) has x = 514.4 minutes on average.
The size of the U.S. Time Utilization Survey is 10,900.
Answer:
What caused china's phenomenal economic growth rate over the last 30 years
There are many causes for China's economic miracle in recent decades.
The first cause is that China decided to open the country to foreign investment in some parts of the country, the famous Special Economic Zones, the first one having been located in the city of Shenzhen, north of Hong Kong. This flow of capital boosted inustrial growth.
The second cause is that China became a manufacturing powerhouse due to lower labor costs, reason why most developed countries outsourced a large precentage of their manufacturing sector to China.
A third cause is that the Chinese government worked closely with both domestic firms and foreign firms in specific sectors, promoting a mixed economy in between economic planning and a market economy.
why is it likely unsustainable in the long run?
China's growth is likely unsustainable in the long run because as a country develops and catches up with the advanced world, its rate of growth tends to fall due to a myriad of reason, from capital exhaustion to lower demographic growth, to a less dynamic consumer market in several sectors.
Answer:
adjusted gross income tax is an individuals total gross income minus specific deductions.
taxable income is adjusted gross income minus allowance for personal exemptions and itemized deductions.
