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expeople1 [14]
3 years ago
14

Suppose a state passes a minimum wage law that increases the minimum wage from $5/hour to $20/hour. The equilibrium wage prior t

o the minimum wage hike was $10/hour.Which of the following is likely to result from the minimum wage? a. The state will experience full employment. b. Employers will demand more labor than workers will supply. c. The labor market will become more efficient. d. Some employers and workers will agree on a wage less than $20 and not report the wages to the government.
Business
1 answer:
Margaret [11]3 years ago
3 0

Answer:

D) Some employers and workers will agree on a wage less than $20 and not report the wages to the government; black market

Explanation:

The quantity supplied of labor should increase (more people will want to work), but the quantity demanded of labor should decrease (less employers will want to hire workers). Therefore the unemployment level should increase, turning the labor market less efficient.

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Sharon wants to retire in 20 years time, and so decides to start a new retirement savings account. She wants to accumulate 75000
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Answer: around 3,000 a month

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The ratios used in evaluating a company's liquidity and short-term debt paying ability that complement each other are the Entry
Leya [2.2K]

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Current Ratio

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4 0
4 years ago
A department adds all raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughou
Strike441 [17]

Answer:

the equivalent units of production for materials for the month of January is 89,100 units

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4 0
3 years ago
ABC stock is currently trading at an all-time high price of $150 per share. Your client contacts you about the stock, stating th
UkoKoshka [18]

Answer:

Buy ABC Puts

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