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dolphi86 [110]
3 years ago
11

The economic analysis of minimum wage involves both normative and positive analysis. Consider the following consequences of a mi

nimum​ wage: a. The minimum wage law causes unemployment. b. A minimum wage law benefits some groups and hurts others. c. In some cities such as San Francisco and New​ York, it would be impossible for low−skilled workers to live comfortably in the city without minimum wage laws. d. The gains to winners of a minimum wage law should be valued more highly than the losses to losers because the latter primarily comprises businesses. Which of the consequences above are positive statements and which are normative​ statements?
Business
1 answer:
ICE Princess25 [194]3 years ago
4 0

<u>Explanation:</u>

First, remember that the difference between <em>normative and positive economic analysis</em> is that;

Normative analysis take a somewhat neutral view by stating how the world should be. While

The Positive analysis states the facts. That is, it describes the world as it is.

<u> Thus, a </u><u>Normative analysis</u><u> of the consequence of minimum​ wage would be the following statements:</u>

c. In some cities such as San Francisco and New​ York, it would be impossible for low−skilled workers to live comfortably in the city without minimum wage laws.

d. The gains to winners of a minimum wage law should be valued more highly than the losses to losers because the latter primarily comprises businesses.

<u>And a </u><u>Positive analysis</u><u> of the consequence of minimum​ wage would be the following statements:</u>

a. The minimum wage law causes unemployment.

b. A minimum wage law benefits some groups and hurts others.

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press agents  

Explanation:

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A press agent is also known as flack .

A flack is mostly employed by famous personalities like businessmen , actors , etc.

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4 years ago
Merle Corporation applies manufacturing overhead to products on the basis of standard machine-hours. For the most recent month,
bixtya [17]

Answer: $721 Unfavorable

Explanation:

The following can be deduced from the question:

Actual hours = 3690 hours

Standard hours = 3620 hours

Standard rate per hour = ($14000 + $27200) / 4000

= $41200 / 4000

= $10.30 per hour

Therefore, the overall variable overhead efficiency variance for the month is calculated as:

= (Actual Hours - Standard Hours) × Standard rate per hour

= (3690 - 3620) × $10.30

= 70 × $10.30

= $721 Unfavorable

3 0
3 years ago
Which of the following are sources of​ income-based payments that domestic residents make to​ foreigners? ​(Check all that apply
alina1380 [7]

Answer:

options (b),(c) and (e).

Explanation:

Okay let us take the options one after the other;

(a). People in Oregon send money to help cyclone victims in Bangladesh: this is WRONG because the question asked us to identify an INCOME-BASED payment and it is not.

(b). A resident of Maryland buys a car produced by Toyota in Japan: this is CORRECT. The person making the payment is a US resident making payment to a Japanese firm.

(c). Apple corporation pays a stock dividend to a resident of India: This is also CORRECT because Apple is a US based company making payment to Indian(a foreigner).

(d). A foreign exchange student from Paris comma France comma sends wine and cheese to her host family in Columbus comma Ohio : this WRONG because the student is also a foreigner.

(e). Orange Telecom comma a French company comma pays a stock dividend to a resident of Kansas City: this is CORRECT. Orange Telecom is a France company paying income to a foreigner (a U.S resident).

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3 years ago
Government purchases are spending by the government on​ goods, services, and factors of production. Government expenditures repr
Law Incorporation [45]

Answer: A. there has been a major increase in the amount of transfer payments the government makes through programs such as Social Security and unemployment insurance.

Explanation:

Since the 1950s, the US government budget for Transfer Payments to Social Security Programs and Unemployment benefits has increased tremendously.

The main transfer payments are Disability and Pension/ Retirement payments and they have been on the rise since the 50s.

These Transfer Payments are both a show of Humanitarianism as well as a form of Economic Investment as they help stimulate the Economy during times or Economic Distress by pouring money into it.

A typical example would be the $1,200 that Congress voted to provide direct cash payments of which totaled around $250 billion in March this year to help Americans who were hit hard by the lockdowns that have crippled much of the American economy.

6 0
3 years ago
At the beginning of a year, a company predicts total direct materials costs of $1,020,000 and total overhead costs of $1,220,000
Dima020 [189]

Answer:

Predetermined manufacturing overhead rate= $1.961 per direct material dollar

Explanation:

Giving the following information:

At the beginning of a year, a company predicts total direct materials costs of $1,020,000 and total overhead costs of $1,220,000.

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 1,220,000/1,020,000

Predetermined manufacturing overhead rate= $1.961 per direct material dollar

5 0
3 years ago
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