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3 years ago

Factors that affect the elasticity of demand for labor include all of these except:

1 answer:

5 0

Since the problem doesn’t give the choices for these questions. I will be giving you the factors that affect the elasticity:

1. Labor costs as percent of total costs – when labor expenses have a high share in total costs then labor demand is more elastic.

2. Easiness and cost of factor substitution – when the firm can substitute rapidly and effortlessly between labor and capital inputs.

3. Price elasticity of demand for the final output produced – if the business is working an extremely competitive market where the final demand of the product is elastic and as a result the demand for labor is more elastic.

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Which of the following are the three major categories of resources?

geniusboy [140]

Answer:

E. Natural resources, Physical capital and Human capital

Explanation:

The above are the three major categories of resources because natural resources such as air, water etc are given by nature thus essential and constitute an important part of resources. Also, physical capital such as buildings, assets, motor vehicles etc are owned by a business or an organization to carryout daily business activities hence one of the major categories of resources.

Human capital is responsible for employing people to manage and control the natural resources and physical capital.

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3 years ago

In determining whether to issue a loan, banks are not allowed to ask about an applicant's

Firlakuza [10]

Answer:

country of origin.

Explanation:

Banks have a set of requirements that borrowers need to meet to qualify for a bank loan. The banks will ask questions to determine if the customer is eligible for a loan. Most of the questions pertain to the purpose of the loans and the customer's ability to repay.

The bank will ask about employment history, credit history, tax information, personal information, the purpose of the loan, collateral, and other questions related to the ability to repay. A person's country of origin is unnecessary and may elicit elements of discrimination.

3 0

2 years ago

Read 2 more answers

Ally Bank has more than $95 billion in customer deposits but has no brick-and-mortar locations. The bank provides high levels of

aliina [53]

These illustrations highlight the influence of competitive elements as a component of the external environment.

<h3>Is competition a part of the external environment?</h3>

By definition, the external environment includes all external forces and influences that have an impact on how businesses operate. Competitive, political, technological, and economic issues are included in the business environment variables.

<h3>What does external competition entail?</h3>

A business competes and operates in a dynamic external system known as a competitive environment. The marketplace in which you compete will be more competitive the more vendors there are of a given good or service.

<h3>Which elements influence the competitive environment?</h3>

From a microeconomics perspective, there are five fundamental variables that might affect competition: the characteristics of the product, the number of sellers, entrance barriers, the accessibility of information, and location.

learn more about competitive factors as part of the external environment here<u> brainly.com/question/15071676</u>

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3 0

2 years ago

An individual has $2000 in physical assets, and $600 in cash initially. This person faces the following loss distribution to the

RUDIKE [14]

Answer with Explanation:

Probability Expected Loss Loss Forecast

0.5 0 0

0.1 200 20

0.2 400 80

0.1 1000 100

0.1 2000 200

1.00 Total 400

Now,

A. Final Wealth with no Insurance = Physical Assets of the person + Cash Assets - Total Loss Forecast

By putting values, we have:

Final Wealth with no Insurance = $2,000 + $600 - $400 = $2,200

B. For Full insurance, we will not consider expected loss because we will receive Insurance Premium instead:

Final Wealth with Full Insurance = Physical Assets + Cash Assets - Insurance Premium

By putting values, we have:

Final Wealth with Full Insurance = $2,000 + $600 - $600 = $2,000

C. Final Wealth with Partial Insurance and $200 deductibles = Physical Assets + Cash Assets - Insurance Premium For Partial Coverage - Deductible

By putting values, we have:

Final Wealth with Partial Insurance and $200 deductibles = $2,000 + $600 - $450 - $200 = $1,950

D. Final Wealth with 75% Co-insurance = Physical Assets + Cash Assets - Insurance Premium - Co-payment

By putting values, we have:

Final Wealth with 75% Co-Insurance = $2,000 + $600 - $450 - (75% * $400)

= $1,850

E. Final Wealth with Partial Insurance and $1,000 Upper Limit = Physical Assets + Cash Assets - Insurance Premium - Maximum Loss Expected

By putting values, we have:

= $2,000 + $600 - $450 - (Probability 0.1 * $2,000) = $1950

From the above, we can say that the best option here in descending order is as under:

1. A. Final Wealth with no Insurance

2. B. With Full insurance

3. C. Final Wealth with Partial Insurance and $200 deductibles & E. Final Wealth with Partial Insurance and $1,000 Upper Limit

4. E. Final Wealth with Partial Insurance and $1,000 Upper Limit

5 0

3 years ago

The balance in the unearned fees account, before adjustment at the end of the year, is $900,000. Of these fees, $775,000 have be

Sloan [31]

Answer:

(a) Debit Unearned fees account $775,000

Credit Fees revenue account $775,000

(b) Debit Unbilled receivables $289,500

Credit Fees revenue account $289,500

Explanation:

When fees are received in advance but yet to be earned, a debit is posted to cash account and a credit to unearned fees. When revenue is earned, credit revenue and debit unearned fees.

As such, given that before adjustment at the end of the year, is $900,000. Of these fees, $775,000 have been earned. Adjusting entries required

Debit Unearned fees account $775,000

Credit Fees revenue account $775,000

Being entries to record revenue earned.

Also given that $289,500 of fees have been earned but not billed to clients, entries required are

Debit Unbilled receivables $289,500

Credit Fees revenue account $289,500

Being entries to accrue for revenue earned but yet to be billed.

6 0

3 years ago