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
ELEN [110]
3 years ago
11

What are some arguments in favor of raising the minimum wage? On the other hand, what are some arguments against raising the min

imum wage? What does economics suggest that the effect of raising the minimum wage will be on the quantity of entry level jobs available
Business
1 answer:
Ede4ka [16]3 years ago
3 0

Answer:

Explanation:

The main argument in favor regarding increasing minimum wage is that a higher wage will result into an increase in the standard of living of the people. Furthermore, a rise in the minimum wage can help in lifting people out I poverty. Due to higher wages and salaries, workers will have more money to cater for their families and meet their needs. Lastly, an increase in the minimum wage means that the government can reduce its expenditures on helping the low income earners and can therefore invest the money in other critical sectors of the economy.

The arguments against raising the minimum wage is that it can lead to inflation. Inflation in the rise in the price for goods and services. When there's an increase in minimum wage, sellers may increase the price of goods as there'll be more money to spend by households. Also, it can lead to losses of jobs as employersay have to cut down cost on order to be able to increase the wages of some workers and thereby may result in some workers being laid off.

Minimum wages lead to the reduction in the entry-level jobs that are available, and reduces the change of entry level graduates to get training, and lifetime income. According to Economists, minimum wages will result into decrease in the employment opportunities that are available for the youths and thereby create unemployment. Potential employees will miss out on the training that should have been done at the initial stage one is entering an organization.

You might be interested in
The classic quote from the movie Field of Dreams, "If you build (produce] it
-BARSIC- [3]

The correct answer is A. Say's Law

Explanation:

Say's Law proposed by the economist Jean-Baptiste Say establishes the supply (availability of a product) or the production itself is the factor that creates demand (customers willing to buy the product). For example, the production of a new model of cellphone or computer makes people want to buy the new model. This idea is expressed by the quote "If you build (produce] it  they will come [purchase]" because in the quote it is explained the production of something make people go to buy that product.

6 0
3 years ago
Assume that you have already completed a 5-year international assignment working for KPMG as a Tax Consultant in Singapore.
lana [24]

Based on the information, it can be deduced that it's an indication of the uncertainty that exists in the Vietnamese cultural model.

From the complete information, Vietnam has low points in the avoidance index. This implies that they're less associated with their cultural roots and don't have concern for hiring white people.

Some of the solutions that can be applied for training the workers include providing them with ethical and language-based training and also encourage a team culture.

Learn more about model on:

brainly.com/question/25993624

4 0
2 years ago
Which account will appear in the sales ledger?
lara [203]

Answer:

A- Gill, a credit customer

Explanation:

A journal entry involves the process of keeping the records of business transactions made by an organization.

Journal entries are mainly used by bookkeepers and accountants. Ideally, it is important that a journal has all of following informations; date, reference number, debit balance, credit balance and transaction description.

A sales ledger can be defined as an accounting book that comprises of the individual account of each customer of a business firm and records the money received for goods or services purchased, whether the payment has been received or not.

Simply stated, a sales ledger sequentially records all sales that have taken place in a business, whether or not payment have been received.

This ultimately implies that, a sales ledger contains accounting information on all sales transaction made by a company including, money received for its goods and services and money owed by its customers.

Hence, the account which will appear in the sales ledger is that of Gill, a credit customer.

6 0
3 years ago
What does the government do with the money it collects as taxes?
Bogdan [553]

The primary source of revenue for the U.S. government in 2022 become individual earnings Taxes. revenue accumulated by the U.S. government is used to fund an expansion of goods, programs, and services to assist the yankee public and pay hobby incurred from borrowing.

Taxes are mandatory contributions levied on individuals or organizations via a government entity—whether or not nearby, regional, or country wide. Tax revenues finance authorities sports, along with public works and offerings which includes roads and faculties, or programs including Social safety and Medicare.

All residents have to pay taxes, and with the aid of doing so, make contributions their honest percentage to the fitness of the authorities and countrywide economic system. The federal taxes you pay are utilized by the authorities to put money into technology and education, and to offer goods and services for the benefit of the american people.

Learn more about government Taxes here:

brainly.com/question/28412074

#SPJ4

4 0
1 year ago
In general, prices should not be based on costs because
SOVA2 [1]

Answer:

C. consumers make their purchase decisions based on perceived value.

Explanation:

Consumer perceived value is the benefit of a product that the consumer receives by buying any specific goods or services. Perceived value is the satisfaction level of consumer that customer look in the product, rather than just paying for the product, therefore, the company need to work and develop their brand and value in the market. Cost does not define the value of the product, rather it is a satisfactory level of consumer that defines the value and price of product. Example; Customer does not pay for the software, however, they pay for the solution.

5 0
3 years ago
Other questions:
  • according to the rule of 72, if Beth invests $200 and $1300 into two separate accounts with the same interest rate, which amount
    7·2 answers
  • The ____ act requires banks and financial institutions to alert customers of their policies and practices in disclosing customer
    7·1 answer
  • What budget item does NOT necessarily include monthly expenses?
    6·1 answer
  • International Paper's land management strategy included investments in hunting and game preserves which were not part of IP's bu
    15·1 answer
  • Regina finds a new car costing $25,000 and a used car costing $17,000. Which car will have higher insurance premiums and why?
    15·1 answer
  • Omaha Plating Corporation is considering purchasing a machine for $1,500,000. The machine is expected to generate a constant aft
    12·1 answer
  • All of the following are parts of business models employed in the online music industry except: Question 2 options: A) peer-to-p
    5·1 answer
  • Money markets trade securities that: _______________
    7·2 answers
  • Stock Z is trading at $50 today. In one year, the value will go either up to $62.50 or down to $40. A call option on Z with exac
    8·1 answer
  • Insurance premiums, entrance fees, train fares, and organization dues are all examples of?.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!