Answer:
Individual firms and workers are wage takers because they cannot exert any control over the market wage rate.
Explanation:
Remember, a labor market shows the availability of employment and labor, in terms of their supply and demand.
This scenario occurs in a purely competitive labor market.
In this market there many qualified workers with identical skills; meaning the workers share similar skills while the demand for such skills is high because of their importance to firms.
Answer: Foreclosure
Foreclosure refers to a bank’s act of taking possession of a mortgaged property when the mortgage holder fails to make the monthly mortgage payments.
Foreclosure occurs when a home owner does not pay his monthly loan instalments for three consecutive months.
It is a legal process in which the home owner loses the ownership of the property and the banker gets the right to sell off the property in order to make up the loss on account of non payment.
A customer who sold a bond at a loss must wait how long before he can buy back a substantially identical bond and not have the sale classified as a wash sale?
30 days.
Answer:
Relative Frequency = Observed value for each cell / Total frequency * 100
Cause Relative Frequency
Pilot Error 619
Other human error 85
Weather 574
Mechanical problems 566
Sabotage 524
Total 2368
The total frequency is 2368
The calculation of the relative frequency distribution is
Cause Relative Frequency Result
Pilot Error 619/2368 * 100 26.14%
Other human error 85/2368 * 100 3.59%
Weather 574/2368 * 100 24.24%
Mechanical problems 566/2368 * 100 23.90%
Sabotage 524/2368 * 100 <u>22.13%</u>
Total 100%
Conclusion: The most serious threat to aviation safety is the Pilot error as it has the highest frequency. Pilot need to be more equipped with understanding and knowledge of how to deal with unexpected event i.e. turbulence, engine failure among others..
Answer:
The total cost of Job 903 is $5,073.20
Explanation:
The computation of the total cost is shown below:
= Direct material used + Direct labor cost + overhead cost (Predetermined manufacturing overhead rate per direct labor hour × Direct labor hours used in Job 903)
= $3,200 + $1,092 + ($18.60 × 42 labor hours)
= $3,200 + $1,092 + $781.20
= $5,073.20
