The idea for a $15/hour minimum wage is to provide a <u>living wage</u> for employees, meaning that they can meet their basic housing, food, medical, and living expenses when working full time at minimum wage.
Answer:
Equilibrium price to be indeterminate from the information given, but equilibrium quantity to rise.
Explanation:
The recent rains resulted in an increase in demand for kayaks so the equillibrum quantity demanded will rise. Supply will also rise to meet the increased demand.
However we are unable to determine if the price will rise or fall with the given information.
Plastic is cheaper now so kayaks will also be cheaper. On the other hand increase in demand naturally causes an increase in price. So the cheaper price of kayaks will need to be compared with price increases as a result of increased demand to determine if equillibrum price will rise or fall.
Question Completion:
Describe the accounting treatment of Supplies Expenses.
Answer:
Supplies Expenses are debited while the Supplies account is credited with the supplies expenses.
Explanation:
This accounting treatment of Supplies Expenses reduces the balance of the Supplies account by the amount of supplies used during the period. Thus, what is left in the Supplies account is the cost of the unused supplies at the end of the accounting period. The treatment also accords with the accrual concept, which requires that expenses are matched to the revenues that they generate in the period.
Answer:
c. consumption and leisure are both normal goods and that the consumer likes diversity in his or her consumption bundles.
Explanation:
- A consumer's preference can determine the consumer utility properties between the different periods and can be measured by the tastes and preference by comparing the opportunity costs of that one item when every you buy an item.
- The consumption and the leisure are both the normal goods hat the consumer likes to have diversity in his consumption patterns and have a utility related to them.
<u>Explanation:</u>
Some of the essential preparations when communicating to inform, persuade, and argue includes;
- Determine what you know about the subject.
- Be mindful of what your audience already know about the subject and avoiding stating mainly what they know already; so they will be more interested in what you have to say.
- Use appropriate language and terms that your audience can easily understand.
- Make references to respectable outside sources that back your claim.
- Respectfully present your speech to your audience, and avoid been judgmental because of their differing views.
