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Sergeeva-Olga [200]
3 years ago
13

fficiency wages, minimum-wage laws, and unions all keep wages a. below the equilibrium level, causing a shortage of labor. b. be

low the equilibrium level, causing a surplus of labor. c. above the equilibrium level, causing a shortage of labor. d. above the equilibrium level, causing a surplus of labor.
Business
1 answer:
Inessa [10]3 years ago
8 0

Answer:

d. above the equilibrium level, causing a surplus of labor.

Explanation:

Market wage equilibrium refers to the ideal wage rate where the labor supply and demand curves intersect. At equilibrium wage, the benefits derived from an extra worker equals the cost associated with the additional worker.

The efficiency wage theory advocates for higher wages to motivate employees to increase production. Minimum wage laws and trades unions negotiate for higher wages above the equilibrium rate. Trade unions will fight to keep the maximum number of employees or their members in employment.

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Labor and management at Leo Trucking cannot seem to agree upon a contract for the truck drivers. As each side contends that they
jek_recluse [69]

Answer: Distributive bargaining

Explanation: The two sides (Labor and management) are engaged in distributive bargaining as both sides are of the opinion that any gain by the other is a loss. Distributive bargaining is defined as an adversarial competitive bargaining strategy in which one party gains only if the other party loses something and is employed during negotiation in the distribution of fixed resources between both the parties. This is usually because the goals of one party does not align or are against the goals of the other party resulting in a win-lose situation.

3 0
3 years ago
Orlando’s business wants to enact an affirrimative action plan which of the following would not be a part of the process
m_a_m_a [10]

Answer:

C). Firing majority workers who perform the least well.

Explanation:

An Affirmative action plan is characterized as the management tool that details of present and future course of action/procedure in order to ensure the rights of every individual on the basis of their caliber, ability, and merit irrespective of their race, gender, class, religion, disability, etc. It primarily aims to offer a fair entry to employment opportunities for all and develop a work community that reflects the demographics of a proficient and qualified workforce. Thus, 'firing majority workers who perform least well' would not be a part of this process as it offers fair access to opportunities on the basis of ability. Therefore, <u>option C</u> is the correct answer.

3 0
3 years ago
Read 2 more answers
When Hurricane Katrina shut down many oil refineries, the supply curve for oilA. shifted to the leftB. shifted to the rightC. st
4vir4ik [10]

Answer:

A. shifted to the left

Explanation:

When refineries shut down,the supply of oil would reduce. This would lead to a shift of the supply curve to the left.

I hope my answer helps you

3 0
3 years ago
Milner Frosted Flakes Company offers its customers a pottery cereal bowl if they send in 3 box tops from Milner Frosted Rakes bo
ladessa [460]

Answer:

$87, 500.

Explanation:

1 Pottery cereal bowl = 3 box tops + $1

60% of the box tops will be redeemed. In 2007

Total sales                   = 675,000 boxes of Frosted Flakes

Estimated to be redeemed = 60% of 675,000 = 405,000  boxes  

Already redeemed               = 330,000 box tops

Outstanding                           = Estimated redemption - Already redeemed

Outstanding                            = 405,000 - 330,000 = 75,000 box tops

1 Pottery cereal bowl              = 3 box tops

Outstanding cereal bowl        = 75,000/3 = 25,000

Cost of cereal bowl                 = $2.50

Monetary compensation         = $1

Outstanding premiums           = 25,000 x ($2.50 + $1)

                                                  = 25,000 x $3.5

                                                  = $87,500

6 0
3 years ago
Read 2 more answers
Explain and evaluate the following statements:
ELEN [110]

Answer:

A) This statement refers to the fact that money is great as a medium of exchange, because it is accepted by people, and it's easy to tansport.

B) Money has three functions: as a store of value, as a unit of account, and as means of exchange. When a society thinks that something (be it coins, bills, cigarrettes) has those three functions, it becomes money.

C) The government issues treasure bonds that are bought by the central bank, the money the central bank pays from these bonds enters the market. Commercial banks also borrow from the central bank. These funds they borrow are used to make loans, and put more money in the market.

D) Money has value as long as it is exchanged for goods and services. Even if a person hoards money for a long period of time, that person does so because he or she expects the money to gain value, or because he or she wants to save for the future.

E) This statement is describing what inflation is. Inflation is the rate of price increase in time. When there is more money than goods and services in an economy, money itself loses value and all the prices expressed in monetary value increase.

F) The statement is true. If a central bank creates too much money, it will lead to inflation, or even hyperinflation.

4 0
4 years ago
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