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Oliga [24]
4 years ago
13

Suppose that the equilibrium wage for teachers in Michigan is $15/hour. Also suppose that Michigan raises its minimum wage to $1

6/hour. Because the equilibrium wage for teachers is (a) lower than or higher than the new minimum wage, we would expect the number of teachers employed to (b) increase, decrease, or stay the same at the new minimum wage. There will be (c) a shortage, a surplus, or no change in the number of teachers.
Business
1 answer:
Iteru [2.4K]4 years ago
4 0

Answer:

a. Lower b. Decrease c. Surplus

Explanation:

The equilibrium wage rate is $15.

The minimum wage is fixed at $16.

a. The equilibrium wage is lower than minimum wage.

b. The higher minimum wage will lead to reduction in the number of teachers employed as the cost of hiring goes up.

c. There will be a surplus in the number of teachers, as with increased wages, the supply of teachers will be higher than demand.

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A specialized accounting book for accumulating and posting business transactions into specific categories is a ledger.

<h3>What is a ledger?</h3>

A ledger is a specialized accounting tool.  It can also be described as a financial book or computer program.

In the ledger, information from accounting journals is accumulated and posted into specific categories matching the type of accounts.

From the ledger, the trial balance is extracted, which forms the basis for preparing the financial statements that show an entity's financial profitability and position.

Thus, a specialized accounting book for accumulating and posting business transactions into specific categories is a ledger.

Learn more about the ledger accounts at brainly.com/question/17143087

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3 years ago
The minimum wage a. is an example of a price ceiling. b. has its greatest impact on middle-aged and immigrant workers. c. does n
Kaylis [27]

Answer:

does not apply to unpaid internships. 

Explanation:

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Minimum wage would affect the quantity of labour demanded and supplied.

I hope my answer helps you

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If a couple plans to stay at a hotel for a week on the beaches of tulum, mexico, and it costs 7,000 pesos, _____.
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