Usually, a minimum wage that is set below a market's equilibrium wage will result in an excess demand for labor, which is, a shortage of workers.
<h3>What is a
market's equilibrium wage?</h3>
The equilibrium market wage refers to an intersection of the supply and demand for labor wage.
The minimum wage means the ceiling wage that must be paid to the labor.
Hence, when a minimum wage is set below a market's equilibrium wage, it will result in an excess demand for labor, which is, a shortage of workers.
Therefore, the Option B is correct
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Answer:
The correct answer is option D.
Explanation:
The efficient market hypothesis is a theory in modern financial economics which states that the share prices reflect all available information and alpha generation is impossible. Neither fundamental nor technical analysis can give excess returns which are also risk-free.
Share prices in an efficient market reflect all the information, both public and private. This information includes future predictions. All this information is widely available to all the investors and they correctly interpret this information and quickly adjust to it.
Answer:
1. positive externalities
2. educational credit for the market failure
3. redistribution
4. failure to maximize the family utility
Explanation:
There are generally four rationales or logical thinking for the public provisions for education. They are the positive externalities, failure to maximize the family utility, educational credit for the market failure, redistribution.
Now each rationales provides reasons that educations is more likely to be underprovided without any intervention from the government. But many of them does not provide any reasons for the mandate of education.
Like suppose the government can support and solve any educational credit market failure by just offering some loan guarantees for the students while letting them chose to receive education or not.
Similarly government can also address positive externalities that are associated with productivity gains or just letting a person educated without any mandating it.
And finally, government redistributes the poor families through the progressive taxation or the offerings of free education without any mandating them.
Answer: $38,097.50
Explanation:
Mandy Feng has to pay Johnson $35,000 for the year as well as various taxes. Adding all of these up is the total cost of hiring Johnson to Mandy Feng.
Calculating therefore we have,
= Salary + Social Security Taxes + Medicare Taxes + SUTA Tax + FUTA Tax
Remember, it is stated that FUTA and SUTA are applicable to only the first $7,000 of Johnson's pay.
= 35,000 + (6.2% * 35,000) + (1.45% * 35,000) + ( 5.4% * 7,000) + ( 0.6% * 7,000)
= 35,000 + 2,170 + 507.50 + 378 + $42
= $38,097.50
The total cost to Feng of employing Johnson for the year is $38,097.50
Answer:
- The adjustment causes an increase in an asset account and an increase in a revenue account.
- Accounts receivable is usually increased when accruing revenues.
- They refer to revenues that are earned in a period, but have not been received and are unrecorded.
- They refer to earnings which have been earned but not yet billed.
Explanation:
Accrued revenue refers to cash earned for selling a good or delivering a service yet the cash has not been received and the transaction was not recorded in the books as revenue. This means that the cash has been earned but it has not been billed to the customer it was earned from.
When the books are being adjusted for this, the accounts receivable - which is an asset account - will increase to show that cash is owed. Revenue will also increase as this was cash earned from delivering a good or service.
