Describe the role that workers play in the game of economics.

1 answer:

4 0

They function as consumers and producers because while they work, they are creating goods/ providing services that contribute to the economy. When they get paid, they become consumers who buy goods/pay for services.

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A law passed increasing the minimum wage by 10%.

MatroZZZ [7]

The increase in the minimum wage in the economy would cause employers to increase charges that they give to consumers by about 4 percent.

<h3>What is the impact of minimum wage on goods?</h3>

When minimum wage is raised in the economy, it means that the employers of labor would have to pay more operational cost for labor.

The effect that this would have on goods is that the people that consume the goods would have to pay extra for them.

Based on research, an increase in minimum wage raises prices by 4 percent in the economy.

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2 years ago

George saves 18% of his total gross weekly earnings from his 2 part-time jobs. he earns $6.25 per hour from one part-time job an

mote1985 [20]

The correct answer is - the number of hours he works at each job.
If we have the number of hours he works for each job separately, then we will be able to take out a percentage of the earnings from both of the jobs separately. We will than get the sum of the percentages if both of them, and have the real amount of George's weekly savings.

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3 years ago

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_____ is the supply chain function responsible for acquiring raw materials, component parts, tools, services, and other items re

Elden [556K]

Procurement is the supply chain function responsible for acquiring raw materials, component parts, tools, services, and other items required from external suppliers.

<h3>What is procurement?</h3>

Procurement is a branch of supply chain that deals with buying of materials or goods for production purposes.

Procurement give account of all the logistics involved and the materials bought.

Therefore, Procurement is the supply chain function responsible for acquiring raw materials, component parts, tools, services, and other items required from external suppliers.

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2 years ago

Mike is saving his emergency funds in an IRA account. Is his strategy a good one? Select the best answer from the choices provid

alexandr402 [8]

The answer to your question is:

- A. Yes, because IRAs have tax advantages over regular bank accounts.

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2 years ago

The IMF projects that China's real GDP per person will be 57,163 yuan in 2017 and 60,334 yuan in 2018 and that India's real

erica [24]

Answer: India / 11.1years

Explanation:

Per capita income (PCI) or average income measures or calculate the average income earned per person in a given place (country,city, region etc.) in a particular year. It can be calculated by dividing the area's total income or wealth by its total number of population.

India's GDP will increase or double than that of China's, because is has a larger income than that of China.

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2 years ago