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Paul [167]
3 years ago
12

Some countries have high minimum wages and require a lengthy and costly process to get permission to open a business Select one:

a. Reducing either the minimum wage or the time and cost to open a business would have no effect on the long-run aggregate supply curve. b. Reducing the minimum wage and the time and cost to open a business would both shift the long-run aggregate supply curve to the right. c. Reducing the minimum wage would shift long-run aggregate supply to the right. Reducing the time and cost to open a business would have no affect on the long-run aggregate supply curve. d. Reducing the minimum wage would have no affect on the long-run aggregate supply curve. Reducing the time and cost to open a business would shift the long-run aggregate supply curve to the right.
Business
1 answer:
Pani-rosa [81]3 years ago
6 0

Answer:

b. Reducing the minimum wage and the time and cost to open a business would shift the long-run aggregate supply curve to the right

Explanation:

Minimum wage is a wage set by the government, to pay for laborers. Wages below this is illegal. Wages are also a major cost to any firm. When they have been reduced, cost of production is likely to fall. Cost of production is a factor affecting supply. When cost of production falls, supply shifts right.

This is explained as that when cost of production falls, businesses can now make higher profits. This acts as a motivation for many other firms to also enter into the market. Therefore, supply is likely to rise in the long-run, shifting the supply curve to the right.

Time and cost to open a business is another factor affecting supply. When the time and cost is high, it discourages new firms because they do not want to undergo the hassle of submitting many legal documents or may not have enough funds to pay for all the costs. However, when the cost and time taken falls, more firms will be willing and able to enter into the market. Thus, the supply curve shifts right in the long run, increasing quantity supplied.

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Joe is hired by a real estate company to complete a roofing job on one of their projects. The job is very specialized, he is und
IceJOKER [234]

Options:

Yes, Joe is an agent who has that authority.

No, Joe is an employee, but the employee does not have that authority.It depends whether Joe signed a written contract for his employment.

Yes, Joe is an employee.

No, not unless he possesses authority from the principal because Joe is an independent contractor.

Answer:No, not unless he possesses authority from the principal because Joe is an independent contractor

Explanation: An independent contractor is a third party engaged by a principal to transact certain specific jobs or accomplish a certain task on his behalf. An independent contractor does not have any power or authority to represent his or her principal especially when he or she is not authorized to do that on behalf of the principal.

JOE DOESN'T HAVE THE POWER OR AUTHORITY TO ENTER INTO ANY CONTRACT OR AGREEMENT WITH ANOTHER ENTITY FOR HIS PRINCIPAL EXCEPT WHEN GIVEN THE AUTHORITY TO DO SO.

4 0
3 years ago
lYour friend says, "I have some extra money, but I'm not sure if I should save or invest it." What key questions would you ask y
JulijaS [17]
I prefer investing money you can save it too
3 0
3 years ago
The cost, in dollars, to produce x designer dog leashes is C ( x ) = 8 x + 3 , and the price-demand function, in dollars per lea
steposvetlana [31]

Answer:

<em><u>P (x)   = 80x - 2x^2 - 3</u></em>

Explanation:

The Profit function is the revenue minus the cost.

Revenue = Price x Quantity =  X.px = x(88-2x) = 88x - 2x^2

Therefore the profit function P (x):  

P (x)  =  88x - 2x^2 - (8x+3)

<em><u>P (x)   = 80x - 2x^2 - 3</u></em>

<em><u /></em>

To maximise profit we use the 1st order condition: dP(x)/dq = 0

Therefore,  80 - 4x = 0

4x = 80

x = 20

So 20 leashes maximises profit.

P(x) = 80(20) - 2(20)^2 - 3

<em><u> P = $803  </u></em>

<em><u /></em>

The price to charge would be:

<u><em>p (x) = 88 - 2(20) = $48</em></u>

<u><em>The best reason would be that the price is a bit expensive for a leash so most people would not buy it.</em></u>

6 0
3 years ago
The following totals for the month of April were taken from the payroll register of Magnum Company. Use this information to answ
tankabanditka [31]

Answer:

(C) debit to Payroll Tax Expense for $1,148

Explanation:

"employer's payroll taxes" This means we are asked for the entry of the employer, not the employee.

The employer will contribute the same amount for FICA(medicare and social security)  FUTA and SUTA

so the entry will be :

<u>payroll tax expense debit 1148</u>

FICA taxes payable credit 900

FUTA payable credit 32

SUTA payable credit 216

7 0
3 years ago
&lt; Back to Assignment Attempts: Average: / 1 2. Introduction to the foreign-currency exchange market In an open economy, why i
Fofino [41]

Answer: Net capital outflow is determined by the real interest rate, not the real exchange rate

Explanation:

In the foreign-currency market, the supply of dollars is not dependent on the real exchange rate and so the supply curve will be vertical to indicate this independence by showing inelasticity which means that it is unaffected by the variables in the foreign-currency market.

Supply of dollars is rather dependent on the real interest rate.

This is because dollars get into the world economy (supply of dollars) as a result of investments by Americans into markets abroad in the form of Net Capital Outflow. If American real interest rate is low, Americans will invest in other countries with a higher rate of return thereby pumping more dollars into the world economy.

7 0
3 years ago
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