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8_murik_8 [283]
3 years ago
11

When economists say that the demand for labor is a derived demand, they mean that it is rev: 06_21_2018 Multiple Choice dependen

t on government expenditures for public goods and services. related to the demand for the product or service labor is producing. based on the assumption that workers are trying to maximize their money incomes. based on the desire of businesses to exploit labor by paying below equilibrium wage rates.
Business
1 answer:
Zinaida [17]3 years ago
6 0

Answer:

related to the demand for the product or service labor is producing.

Explanation:

Derived demand is demand for a good or service that is dependent on the demand for another good..

Demand for labour is an example of derived demand.

Labour is needed to produce good and services. If no good is been demanded, firms would not hire labour.

For example, a bakery that produces bread hires labour. Suddenly, there is a rumour that bread is not healthy, so people stop buying bread. As a result, the bakery closed down and did not demand any labour.

In another scenario, it is rumoured that bread increases IQ. As a result, the demand for bread soars. The bakery increases production and hires more labour.

In both scenarios, the demand for labour was dependent on the demand for bread

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Read the following scenario. An urban area in southern Texas is rapidly growing. The population has almost doubled over the past
Alex73 [517]
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7 0
4 years ago
You put $10000 in an account earning 5%. After 3 years, you make another deposit into the same account. Four years later (7 year
ikadub [295]

Answer:

money deposited after end of 3rd year is $4877.75  

Explanation:

given data

initial amount  = $10000

rate = 5%

time = 3 year

after 7 year account balance = $20000

solution

we consider here money deposited after end of 3rd year is = x

first we get here compounded amount after 3 years as

compounded amount = initial amount × (1+r)^{t}    ................1

compounded amount = 10000 × (1+0.05)^{3}

compounded amount = $11576.25

so at 7 year account balance is

account balance = ( compounded amount + x )  × (1+r)^{t} ....................2

$20000  = ( $11576.25 + x ) × (1+0.5)^{4}  

solve it we get

x =  $4877.75  

so money deposited after end of 3rd year is $4877.75  

7 0
3 years ago
Which accounting assumption or principle is being violated if a company is a party to major litigation that it may lose and deci
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3 years ago
A graduate student wants to examine the effect of print media versus televised media on individuals' position on several social
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3 years ago
A chocolate manufacturer advertises heavily during Christmas with an ad that shows only a picture of red, green, and silver wrap
nikdorinn [45]

Answer: Reminder

Explanation:

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The main objective of the reminder advertisement is that it basically using the promoting or the advertising strategy for targeting the customers or users about the goods and the services ion the market.

According to the given scenario, a chocolate manufacturer is basically using the reminder advertising during the Christmas. Therefore, reminder advertising is the correct answer.            

3 0
3 years ago
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