Product, price, place, and promotion are the four elements in the

Suppose the market wage for cashiers increases from $7 per hour to $9 per hour.As a result, Pat, who is a cashier, now works fiv

Anton [14]

Answer:

Income

Explanation:

Suppose the market wage for cashiers increases from $7 per hour to $9 per hour. As a result, Pat, who is a cashier, now works five more hours per week. On the other hand Chris, who is also a cashier, now works five fewer hours per week.Chris's behavior illustrates the <u>Income</u> effect of a wage increase.

As the income increases, few individual prefer to work fewer hours as now they are able to maintain target by working fewer than at previous wage rate. These people prefer leisure over higher income and want to settle down with limited income. These people may have a backward bending individual labour supply curve – they may choose to work fewer hours when the wage rate rises.

8 0

3 years ago

Tech A says that packing a wheel bearing assembly can be done by hand with proper results. Tech B says that packing a wheel bear

AfilCa [17]

Tech A says that packing a wheel bearing assembly can be done by hand with proper results. Tech B says that packing a wheel bearing assembly with a bearing packer will get the proper results. The two statements are right. This is further explained below.

<h3>What is a wheel bearing?</h3>

Generally, the wheel bearing is simply defined as an important component of a vehicle's braking, steering, and suspension systems.

In conclusion, The one-piece hub assembly is located between the drive axle and the brake disc.

Read more about wheel bearing

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3 0

2 years ago

Which economic policy was most successful during the Great Depression?

labwork [276]

The economic policy that was most successful during the Great Depression is (D) increased government spending. It is a common view among economists that government spending on the war at least accelerated from the recovery of the Great Depression. Well, as always, other think that it didn't play a vital role in recovery.

6 0

3 years ago

Financial accounting is the process of identifying, measuring, and communicating financial information about an economic entity

Anna007 [38]

Answer:

The correct answer is "financial information; economic entity; user groups; legal, economic political and social environment"

Explanation:

The four major elements of financial accounting are:

1. financial information: includes items such as management discussion, analysis, and reports.

2. economic entity: An economic entity is company actions that are separate from its owners and other entities, such as corporations and governmental organizations.

3. user groups: request business information of an economic entity. Investors and financial analysts are user groups.

4. legal, economic political and social environment: influences the financial reporting process.

7 0

3 years ago

Let’s see how fees can hurt your investment strategy. Let’s assume that your mutual fund grows at an average rate of 5% per year

elena-14-01-66 [18.8K]

Answer:

We notice that the more the fees increase for a constant rate of return, the number of years it takes to double on the investment also increases. For example;

a). 15.6 years

b). 20 years

c). 28 years

Explanation:

The rule of 70 is a formula that can be used to estimate the number of years it will take an investment to double up.The formula is expressed as;

Number of years to double=70/Annual rate of return

a). Given;

Annual rate of return per unit of investment=5%

Annual fees per unit of investment=0.5%

Net rate of return=Annual rate of return-Annual fees=(5%-0.5%)=4.5%

Replacing;

Number of years to double=70/Net rate of return

=70/4.5=15.555 to nearest tenth=15.6 years

b). Given;

Annual rate of return per unit of investment=5%

Annual fees per unit of investment=1.5%

Net rate of return=Annual rate of return-Annual fees=(5%-1.5%)=3.5%

Replacing;

Number of years to double=70/Net rate of return

=70/3.5=20.0 to nearest tenth=20 years

c). Given

Annual rate of return per unit of investment=5%

Annual fees per unit of investment=2.5%

Net rate of return=Annual rate of return-Annual fees=(5%-2.5%)=2.5%

Replacing;

Number of years to double=70/Net rate of return

=70/2.5=28.0 to nearest tenth=28 years

We notice that the more the fees increase for a constant rate of return, the number of years it takes to double on the investment also increases

6 0

3 years ago