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Nady [450]
3 years ago
13

Todd Williamson and Jim Miranda started their business, Broad Reach Sailing, as a way to earn a living doing something they love

. Which of the following is not a reason why entrepreneurs like Todd and Jim are willing to take the risk of starting and running a new business
Business
1 answer:
Hitman42 [59]3 years ago
5 0

Answer:

C. More leisure time

Explanation:

An entrepreneurships can represent an opportunity for success, since all large corporations started that way. They can also generate a lot of profit and make their owners very rich people. It is great to be your own boss but it is also very challenging and motivating.

But the only thing that an entrepreneurship is not, is an job that allows you to have a lot of free time. Entrepreneurships are extremely time consuming and require lots of work and passion.

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Which of the following statements are true? Check all that apply. In this labor market, a minimum wage of $9.00 is binding. In t
soldier1979 [14.2K]

Answer:

<em>1.  In this labor market, a minimum wage of $9.00 is binding : </em><em>FALSE</em>

<em>2. In the absence of price controls, a shortage puts upward pressure on wages until they rise to the equilibrium : </em><em>TRUE</em>

<em>3. If the minimum wage is set at $12.50, the market will not reach equilibrium : </em><em>TRUE</em>

<em>4. Binding minimum wages cause frictional unemployment : </em><em>FALSE</em>

Explanation:

<em><u>Question has been attached here</u></em>

Unemployment is the term used to define those who are willing and are actively seeking work but cannot find any. A minimum wage is a price control, in the form of a price floor imposed by government legislation in order to protect laborers from low wages. Paying anything below the minimum wage is against the law.

<em>1. In this labor market, a minimum wage of $9.00 is binding : </em><em>FALSE</em>

A minimum wage is binding only if it is set above the equilibrium price. In this scenario, the equilibrium price is at $12. Hence, $9 is not binding since a shortage of labor would gradually raise the price to the equilibrium.

<em>2. In the absence of price controls, a shortage puts upward pressure on wages until they rise to the equilibrium : </em><em>TRUE</em>

When there is a shortage in the market, it means that the quantity supplied is higher than the quantity demanded. With any particular commodity such as bread or rice, a shortage creates a rise in price. Just as that, a shortage of workers creates an upward pressure on the price (wage). Since there are no price ceilings, market will reach equilibrium.

<em>3. If the minimum wage is set at $12.50, the market will not reach equilibrium : </em><em>TRUE</em>

As shown in the diagram, the market equilibrium is $12. If the minimum wage was $12.50, there would be a surplus of labor (quantity supplied is higher than quantity demanded). Naturally, this may cause a downward pressure on wages until it reaches $12. However, when a minimum wage is imposed at $12.50, it cannot fall below that level. Thus, the market will not reach the equilibrium.

<em>4. Binding minimum wages cause frictional unemployment : </em><em>FALSE</em>

Frictional unemployment is a type of unemployment that occurs when workers are temporarily unemployed while switching between jobs. It is normal and occurs even in the healthiest of economies. A binding minimum wage is more likely to cause structural unemployment. This occurs when there is a mismatch between the skills of the labor force and the skills expected to be possessed by employers to do a particular job. Hence, even if jobs are available, the laborers are not suited to do them and thus are unemployed.

6 0
3 years ago
After all of the account balances have been extended to the Balance Sheet columns of the work sheet, the totals of the debit and
Nat2105 [25]

Answer:

huh.............................................................................................

6 0
3 years ago
NEED HELP AS SOON AS POSSIBLE
Alexeev081 [22]

Answer:it is 10,000

Explanation:

3 0
3 years ago
Read 2 more answers
results when situations such as the nature of the job, supervisors and co-workers, pay levels, or the employee's own disposition
adoni [48]

Answer:

Job withdrawal

Explanation:

Job withdrawal can be said to be the behavior individuals show in aspects of their work while maintaining their positions at work. These behaviours are as a result of dissatisfaction with the job as a result of factors such as nature of job, co worker and superiors' interaction, salary or wage levels, etc. It sometimes could be as a result of the employee's attitude to his/her work.

I hope this helps.

3 0
3 years ago
Use the following chart to explain how the amount of principal affects the total cost of the loan
german

Answer: The higher the principal, the higher the total cost of the loan

Explanation:

From the chart shown we can see that the loan with a higher principal has a higher total cost than the loan with the smaller principal.

This happens because the interest rate attached affects larger figures more than smaller ones. 6.47% of $6,000 is $389 which is larger than 6.47% of $5,000 which is $324 (calculating the cost of a loan is more cumbersome than this but this shows the effect as well).

When compounded overtime, this difference will be even more and thus shows that larger principals cause larger total costs.

7 0
3 years ago
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