1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ahat [919]
3 years ago
9

Assume the minimum wage is increased above the previous equilibrium wage. Which of the following statements is/are correct? The

supply curve of workers will increase. The demand curve for workers will decrease. The unemployment rate will decrease. The quantity of labor supplied will increase. The unemployment rate will increase.
Business
1 answer:
Nat2105 [25]3 years ago
5 0

Answer:

The quantity of labor supplied will increase.

and

The demand curve for workers will decrease.

Explanation:

In the labour market, when the minimum wage is increased abov the equilibrium wage (quantity of labour supplied is equal to the quantity to labour demanded), the quantity of labor supplied by workers would exceed (not equal and be greater than) the quantity demanded by employers.

For example, if the minimum wage for workers in the Mining sector is increased from $10 daily to $25 daily. This increase in price may result in an increase in the supply of employees (miners) working in the mining sector.

As a result of this increase above the equilibrium wage, employers would reduce their demand for workers (demand curve for workers) in other to reduce their increased expenses.

You might be interested in
Explain the ways in which Fiscal Policy and Monetary Policy interact by using Keynesian IS and LM curves. Discuss the impact of
statuscvo [17]

Answer and Explanation:

If demand is greater than supply, then there is inflation. Hence, the government has to devaluate its currency on net borrowings from abroad. Supply increases and price becomes stable.

The banks have to lower their bank rate and decrease CRR. When prices rise, consumption decreases and investment increases. When the interest rate is made high consumption and investment both become stable. Hence, there is full employment. Government has a fiscal policy to increase taxes and borrowings and increase the export and income rises and price becomes stable.

6 0
4 years ago
Amy, the chief operations officer of a company that manufactures baby products, formulates a plan on how the company's newly lau
strojnjashka [21]

d. strategic plan

A strategic plan is an evolving set of goals around how a company will meet customer needs and deal with competition and external factors.

4 0
3 years ago
Which of the following statements concerning family businesses is correct?
miv72 [106K]

Answer:

3. Most top managers at family firms tend to stay in their positions much longer than those at nonfamily firms.

Explanation:

A key success factors in family firms is understanding the culture. This is usually the foundation of the business.

So when family members occupy a position, they tend to stay on much longer because they have intimate knowledge of the business and the goals and objectives are personal to them.

Also loyalty tends to play a part, family members have close relationships which are long-term.

7 0
3 years ago
Type the correct answer in the box. Spell all words correctly.
Ganezh [65]

read the resume

employers might do a reference check

see if the skills match the job requirements

some even do a credit check

some check grades/ test scores

needs to develop a set of skill requirements needed for a job

6 0
3 years ago
Vicki likes to visit a social network site called Fanfiction and read the stories that others post on this site. She doesn't rea
LenaWriter [7]

Answer: The correct answer is "c.spectators".

Explanation: Vicki is the spectator type of social media participants because he does not interact with others, visit the website often and do not publish any stories, he only dedicates himself to reading the stories that others publish.

8 0
3 years ago
Other questions:
  • To minimize potential risks of harm, a researcher conducting an on-line survey can:
    13·1 answer
  • (c) Which of the following statements are true? (You may select more than one answer. Single click the box with the question mar
    6·1 answer
  • How does your credit score affect the price you pay for insurance? Discuss at least two methods for improving your credit score.
    9·1 answer
  • From the perspective of the parent corporation, contrast the tax consequences of a subsidiary liquidation under the general nonr
    10·1 answer
  • Organizations use ________ planning to determine what contributions the departments or work units can make toward the organizati
    10·1 answer
  • More companies are posting job advertisements on industry specific sites, because the applicants are usually more qualified.(A)
    7·1 answer
  • The Ferre Publishing Company has three service departments and two operating departments. Selected data from a recent period on
    13·1 answer
  • If the marginal propensity to consume is 0.50​, how much would government spending have to rise to increase output by ​$10 comma
    12·1 answer
  • On June 2nd, SEAkayak had the following details for its common stock: 1,000,000 shares authorized, 400,000 shares issued, and 40
    10·1 answer
  • According to most management researchers, the modern study of management originated in which century?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!