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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.

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Monetary policy is defined​ as: A. The actions the Federal Reserve takes to manage tax policy and interest rates. B. The actions
yaroslaw [1]

Answer:

D) The actions the Federal Reserve takes to manage the money supply and interest rates.

Explanation:

The Federal Reserve System (FED) is an autonomous government entity of the United States of America that functions like a central bank. Its main responsibilities are to manage the nation's money supply (the total amount of money in the economy) and establish federal interest rates (interest yielded by T-bills, T-notes and T-bonds).

6 0
3 years ago
A machine cell uses 195 pounds of a certain material each day. Material is transported in vats that hold 25 pounds each. Cycle t
Anna [14]

Answer:

Number of vats used is 3

Explanation:

Number of pounds used per hour, D = 195 ÷ 8

= 24.375 pounds per hour

Cycle time, T = 2.25

Inefficiency factor, e = 0.19

Material held in vats, C = 25 pounds

Now,

Let, n be total number of vats

Thus,

n = \frac{DT(1+e)}{C}

on substituting the respective values, we get

n =\frac{25.75\times2.25\times(1+0.10)}{25}

or

n = 2.413 ≈ 3

Number of vats used is 3  [since vats cannot be in fraction]

6 0
3 years ago
An example of a non-traditional seller can be?
kvv77 [185]
D. all of the above because all are not physical retailers. Non-traditional sellers/retailers do their selling/business over the phone, on the internet, etc.
7 0
3 years ago
Read 2 more answers
Identify how planned investment will change in each scenario. Airwings, a commercial airline manufacturer, becomes optimistic ab
kari74 [83]

Answer:

See explaination for the details of the answer.

Explanation:

1) Increase

As business is optimistic about its future, such business will start capacity expansion to cater for consumer demand.

2) Decrease

Higher real interest rate simply means borrowing cost is higher for the firms and so that they will reduce the investment in respose to that.

3) Decrease

A lower tax means higher profits and firms can pass these benefits to consumers with lower prices, to employees with higher wages and to the government with tax on profit. However, if the rate of tax itself has been increased then in that case corporates will see higher tax as a dampener in sentiments and they might curtail investment plans.

4) Decrease

A recession means there will be lesser economic activity overall and demand will be lower so as the consumption. In such case, planned investment will be reduced.

7 0
3 years ago
Use the Internet to research different outside financing sources available to entrepreneurs. You will need to have at least thre
Scrat [10]

Answer:

Three sources of financing to a business includes;

1) Angels (National Angel Capital Organization, NACO)

Wealthy and experienced retired industry leaders, that invest in startups, require transparency, and take charge of the supervision of the business management practices

2) Business Accelerator or Incubators (MaRS; MaRS Discovery District)

An incubator provide enabling environment and resources for startups to develop ideas before going into production

3) Bank Loans (Business Development Bank of Canada, BDC)

Bank provide loans to startup with a good idea and an accompanying excellent business plan, and personal guarantee

Explanation:

8 0
3 years ago
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