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3 years ago

In two or three sentences, describe the labor market.

2 answers:

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I think the labor market is the nominal market in which workers find paying work, employers find willing workers, and wage rates are determined.

shusha [124]3 years ago

3 0

Answer: The labor market is a market where the demand and supply for jobs meet to interact with one another. The numbers of workers that want to work depend on the level of pay that the employers want to pay. Equilibrium exists where supply of labour equals demand for labour.

Explanation:

The labor market refers to a market where workers and employers reach an agreement or interact for labor and wages. The worker provides the service which the employers need. The employer refers to an organization that needs an individual to do specific task while the worker is an individual who offer his service for pay or compensation.

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The residents of Bucktown, Illinois, place their trash at the curb each Wednesday morning to be picked up by Municipal Crews. Ex

svetoff [14.1K]

Answer: 8.56crews

Explanation:

To get critical fractile probability SL,

We stock up the local trash collection capacity.Cost of overstocking by 1 ton =MC = 625/5 = $125Cost of understocking by 1 ton = additional cost of using outside trash pick up = MB = $650-$125 = $5

SL = Prob(RQ) = MB /( MB + MC) = 525/(125 + 525) = 0.8077 appropriate # of crews = 8.56 crews

8 0

2 years ago

The difference between errors in the financial statemetns as compared to fraud is

Nataly [62]

Hello there!

There is quite a HUGE difference between these both. When being frauded or making a fraud, this would also be known as stealing money.

But when making a mistake in a statement, they can be things resolved faster than if a person were to steal money. When making this mistake, you could resolve this by explaining why this was a mistake and also what could you do to fix it as well.

Both of these kind of acts are seriously two major different things, they have nothing in common.

4 0

2 years ago

Which of the following statements best describes the attitudes of an old-style manager?Most people wish to avoid responsibility,

Shkiper50 [21]

Answer:

The correct answer is: Most people wish to avoid responsibility, have little ambition, and want security.

Explanation:

This type of management thinking responds to the early theories of management, more especially to the classical theories of organization. These theories were devoted to the superior's authority, objectives, rules and, economic activities. They organized men and materials for achieving objectives for their benefits, characterized by a large and complex atmosphere with impersonal detachment from human resources.

The motivation of workers were purely by bonus and monetary benefits. The general idea was that workers were inspired to perform the job if they are paid according to their contributions. Workers are considered economic beings. Man was considered a rational and not an emotional being. It assumes that man wants only money, and this assumption provides the maximum opportunity to exploit employees. The idea that people avoid responsibility is due to the hierarchy and chain of command, the responsibility of the work rests on the superior.

8 0

2 years ago

If the current price of a product is "below" the market equilibrium price, there is ________ of this product.

Irina-Kira [14]

Answer:

There is a shortage of the product.

Explanation:

The market demand curve is downward sloping indicating a negative relationship with price. While the market supply curve is upward sloping indicating a positive relationship with price.

At the market equilibrium, both demand and supply are equal. At a price below the equilibrium level, the market demand is greater than supply. This causes a shortage in the economy.

8 0

2 years ago

Read 2 more answers

Kareem bought a rental house in March 2014 for $300,000, of which $50,000 is allocated to the land and $250,000 to the building.

Bingel [31]

Answer: See explanation

Explanation:

a. What is Kareem's realized gain or loss?

Amount realized from sale = $330,000

Less: adjusted basis for house and land = $269000

Less: tennis court adjusted basis = $6200

Realized gain = $54700

b. What is the adjusted basis of the rental house and land at the time of the sale?

Original land basis = $50000

Add: Original house basis = $25000

Less: Depreciation = $30900

Adjusted basis = $269100

c. What is the adjusted basis of the tennis court at the time of the sale?

Tennis court original basis = $7500

Less: Depreciation = $1300

Adjusted basis of the tennis court = $6200

d. If the buyer takes the property subject to the $80,000 mortgage, rather than assuming it, what is Kareem's realized gain or loss?

Amount realized = $330000 + $80000 = $410,000

Less: Adjusted basis for house and land = $269100

Less: Adjusted basis of tennis court = $6200

Realized gain = $134700

3 0

3 years ago