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Lady bird [3.3K]
2 years ago
10

A. Explain the role labor’s productivity plays in wage determination in the competitive labor market. If productivity increases,

what happens to wages and why?
b. What is meant by the term "compensating wage differentials?"
c. Why is the demand for labor called a "derived demand."
Business
1 answer:
Dima020 [189]2 years ago
6 0

Answer:

(A)Wages decrease in the long term

Explanation:

(A) The principles of supply and demand applies here.

Higher worker productivity in a particular industry implies increased demand for workers in the industry (short term effect).

Increased supply of workers implies:

1. output per worker increases, resulting in increase in supply of products in the industry. But, the laws of supply and demand comes in, because when supply increases, prices decrease.

That is, the increase in worker productivity may cause a decrease in prices resulting in a decrease in wages since the firm's revenue declined (long term effect).

2. Increase in the supply of workers in the industry with increased in productivity over workers from other industry because of initial increase in wages. This would lead to a decrease in wages because the supply of workers would exceed demand.

(B) The compensation differential is the additional amount of money that a given worker must be offered in order to motivate him to accept a given undesirable job, relative to other jobs that the worker could perform.

(C) This is called a derived demand because it is often based on the demand for products.

For example, when consumers want more of a particular good or service eg clothing, more firms in the industry will want workers that make this product.

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Faith went to the grocery store to buy apples. if each apple cost $0.78, and she spent a total of $4.68, how many apples did fai
nirvana33 [79]

Faith bought 6 apples at $.78 each. She paid $4.68 for the apples.


Given : $.78 price for each apple

$4.68 the amount Faith spent for the apples.


$4.68 / $.78 = 6

4 0
3 years ago
Prompt
Savatey [412]
Is this argumentative ? are you supposed to be talking her into donating ? you could say that there’s proof that they do donate the money and use self worth and helping others and the good feeling you get from that to get her to donate
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3 years ago
During 2021, its first year of operations, Pave Construction provides services on account of $152,000. By the end of 2021, cash
Softa [21]

Answer:

  • 1. Record the adjusting entry for uncollectible accounts on December 31, 2021.

Dr Bad Debt Expense $ 13.800  

Cr Allowance for Uncollectible Accounts  $ 13.800

  • 2-a. Record the write-off of accounts receivable in 2022.

Dr Allowance for Uncollectible Accounts $ 12.420  

Cr Accounts Receivable   $ 12.420

  • 2-b. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2022

Final Balance 2022  

Cr Allowance for Uncollectible Accounts  $ 1.380

  • 3-a. Assume the same facts as above but assume actual write-offs in 2022 were $18,630. Record the write-off of accounts receivable in 2022.

Dr Allowance for Uncollectible Accounts $ 18.630  

Cr Accounts Receivable   $ 18.630

  • 3-b. Assume the same facts as above but assume actual write-offs in 2022 were $18,630. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2022

Final Balance 2022  

Cr Allowance for Uncollectible Accounts  $ 7.176

Explanation:

Initial Balance  

Dr Accounts Receivable   $ 152.000

Cash collections on these accounts total $106,000  

Dr CASH $ 106.000  

Cr Accounts Receivable   $ 106.000

New Balance

Dr Accounts Receivable   $ 46.000

Pave estimates that 30% of the uncollected accounts will be uncollectible.  

Dr Bad Debt Expense $ 13.800  

Cr Allowance for Uncollectible Accounts  $ 13.800

 

FINAL BALANCE 2021  

Dr Accounts Receivable   $ 46.000

Cr Allowance for Uncollectible Accounts  $ 13.800

In 2022, the company writes off uncollectible accounts of $12,420  

Dr Allowance for Uncollectible Accounts $ 12.420  

Cr Accounts Receivable   $ 12.420

Final Balance 2022  

Dr Accounts Receivable  $ 33.580  

Cr Allowance for Uncollectible Accounts  $ 1.380

2-b. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2022    

Dr Bad Debt Expense $ 10.074  

Cr Allowance for Uncollectible Accounts  $ 10.074

a. Assume the same facts as above but assume actual write-offs in 2022 were $18,630.    

Record the write-off of accounts receivable in 2022.  

Dr Allowance for Uncollectible Accounts $ 18.630  

Cr Accounts Receivable   $ 18.630

3-b. Assume the same facts as above but assume actual write-offs in 2022 were $18,630.  

Calculate the balance of Allowance for Uncollectible Accounts at the end of 2022  

Final Balance 2022  

Dr Accounts Receivable  $ 14.950  

Cr Allowance for Uncollectible Accounts  $ 7.176

6 0
2 years ago
Patrick purchased a used passenger automobile on June 1, 2018. He paid $19,000 for the automobile. During 2018, he uses the auto
kkurt [141]

Solution:

a. The first year depreciation = $3,160

The second year depreciation = $5,100

b. By considering 75% used for business purchase

    For 2018 , for 7 months remaining

   Depreciation = $3,160 x 75% ( \frac{7}{12}

                         = $1382.50

  For 2019 ,

   Depreciation = $5,100 x 75% = $3,825

8 0
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Question 16 (3 points) The 2011 and 2012 Balance Sheets for Jacob, Inc. contained the following entries: 12/31/201112/31/2012 Ac
maria [59]

Answer:

$2,857

Explanation:

Cost of goods sold (COGS) refers to the relevant cost incurred to acquire or produce the products being sold a company during a particular period.

The formula for calculating the COGS is as follows:

COGS = Beginning inventories + Purchases - Ending inventories

From the question, we have the following for 2012:

Beginning stock = $590

Purchases = $2,770

Ending inventory = 503

Therefore, we have:

COGS for 2012 = $590 + $2,770 - $503 = $2,857

Therefore, Jacob should record $2,857 as Cost of Goods Sold (COGS) on its 2012 income statement.

7 0
3 years ago
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