Supporters protest that the wage rates can be increased without causing any significant unemployment are usually referring to the low pay labor market.
What is a wage?A wage is the money compensation for the services obtained by a labor, this wage is based on rates these rates can be hourly, per piece or per day.
In such a market even if wage rates are increased the unemployment is not significant and is in fact beneficial for the labor working on a low wage.
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A government-imposed price ceiling set below the market's equilibrium price will create a shortage for a product. As a result of the shortage, either the demand curve will tend to shift to the left or the supply curve will shift to the right or both.
When a government-imposed price ceiling set below the market's equilibrium price, either the demand curve will tend to shift to the left or the supply curve will shift to the right or both.
What is an equilibrium price?In economics, economic equilibrium is a situation in which economic forces such as supply and demand are balanced and in the absence of external influences the values of economic variables will not change.
Therefore, the influence of the government (external) can either make the demand curve tend to shift to the left or the supply curve shift to the right or both.
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Most economists agree that the immediate determinant of the volume of output and employment is the
Majority of the economists agree that the immediate determinant of the volume of output and employment is the level of total spending.
What is the total spending?This refers to the sum of the price that is paid for products or services multiplied by the amount of each item purchased.
Hence, the economists most especially agree that the immediate determinant of the volume of output and employment in an economy is the level of total spending.
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Any purchased materials that will go into the finished product are first recorded in the.
Any material purchased will be recorded in the Raw material inventory account. The option for the first blank is raw and second blank is material.
What is Inventory Account?Inventory Account refers to the account which records all the transactions related to the stock. It records the purchased of the stocks, work in progress, closing stock, opening stock etc.
The complete question is attached below.
The raw material inventory account is where all materials that will be used to create the final product are first registered.
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irs guidelines require specific information to substantiate deductible automobile expenses. which 3 items are included in the substantiation requirements?
The three items that are included in the substantiation requirements are:
Date Placed in ServiceThe total mileage; andVehicle Type.What is IRS guidelines?Internal Revenue Service Guidelines are guidelines that individuals and corporates must follow in order to be compliant with the requirements of the IRS.
Thus, it is correct to indicate that according to the IRS Guidelines, the three items that are included in the substantiation requirements are:
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What does the information demonstrate about alex’s investments?
The information demonstrates about that Alex's investments would most likely would have benefited by diversifying.
What is a diversification?This refers to the act of adopting a growth strategy that involves entering into a new industry while also creating a new product for that new market.
Hence, based on the information given, it is deduced that Alex's investments would most likely would have benefited by diversifying.
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In year 1, a corporation incurred $3,500,000 of costs related to the development of a new software product. Of these costs, $1,000,000 was incurred after technological feasibility was established. The product development was completed and the product was available for sale to customers early in year 2. The corporation estimated that revenues from the sale of the new product would be $1,200,000 over five years. What amount of expense should the company report for year 1
The amount of amortization expense on software development in year 1 comes out to be $200,000.
What is amortization?Amortization is the concept being applied to intangible assets to show the reduction in the value over its useful life.
The amount of amortization expense on the development of software can be determined by dividing the cost of $1,000,0000 spent for establishing technological feasibility by the number of years, that is, 5 years till the asset become sold.
Therefore, in year 1, the cost of amortization comes out to be $200,000 after incurring the technological feasibility.
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General Motors had long-running problems with Chevy Cobalt ignition switches. The switches could disable the emergency airbags, causing accidental deaths. The GM culture discouraged anyone from stepping up and addressing the problem. Mary Barra, the new CEO, made a public commitment to change. After an investigation, two senior managers left the company in 2014. By ________, GM was better able to move forward.
By changing leader, GM was better able to move forward.
Who is leader?A leader is someone that possess leadership skills or someone that control and direct others.
Based on the given scenario since two senior managers left GM, changing leader make it possible for the company (General Motors) to move ahead or forward.
Therefore By changing leader, GM was better able to move forward.
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A local customer service firm requires prospective employees to take an emotional intelligence test that measures their ability to monitor their emotions and others' emotions and use that information to guide their actions. The measure has high predictive validity for exemplary job performance. Which statement is likely true about new hires who score high on this measure
It is most likely that new hires who score high on the emotional intelligence test b. receive good job evaluations.
What would a high score infer?A high score on a test that usually predicts how well a person will perform in their job means that there is a good chance that the person being evaluated will be a good employee.
Such an employee would therefore have good job evaluations as these measure how good a job they do at work.
Options for this question include:
a. They receive bad job evaluations.
b. They receive good job evaluations.
c. They will be terminated early.
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according to federal regulations, which of the following best describes when expedited review of a new, proposed study may be used by the irb?
According to federal regulations, the option that best describes when expedited review of a new, proposed study may be used by the IRB (Institutional Review Board) is when the research activities are within regulatory categories that have been designated as eligible and pose just a small risk.
What does the IRB do?The key role of the IRB is to ensure that suitable measures are made to protect the rights and welfare of those participating as research subjects both in advance and during periodic evaluation.
Thus, it is right to indicate that expedited review of a new, proposed study may be used by the IRB (Institutional Review Board) is when the research activities are within regulatory categories that have been designated as eligible and pose just a small risk.
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Adam smith believed that _____________ would lead to the production of items that consumers want.
Adam smith believed that consumer demand leads to the production of items that consumers want.
What is Consumer Demand?A group's desire for a good or service based on availability is measured economically as "consumer demand." It serves as a representation of consumer purchase behavior and aids in identifying demographic-specific purchasing patterns.
Thus, consumer demand leads to the production of items that consumers want. It serves as a representation of consumer purchase behavior and aids in identifying demographic-specific purchasing patterns.
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The return that shareholders require on their investment in the firm is called the:
The return that shareholders require on their investment in the firm is called the dividend.
What is the dividend?
The dividend is the payment made to the shareholders of a company after debt obligations and preferred shareholders have been paid. A shareholder is a person who is regarded as the owner of a public company.
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Jack went to the ABC Casino to gamble. ABC offers its customers one free spin of the Million Dollar Wheel if they fill out an application form. Jack filled out the form, spun the Million Dollar Wheel, and won. However, now ABC refuses to pay, claiming that because Jack did not purchase his chance at the Million Dollar Wheel, Jack gave no consideration and therefore, no contract was formed. Identify the accurate statment
As regards Jack's claim, the truth is that C. A contract was formed because filling out an application can constitute legal consideration.
Why is Jack's claim legitimate?Jack may not have purchased his chance at the Million Dollar Wheel, but he was allocated a free spin if he filled a form which he did.
That application form constitutes a legal consideration because it was signed with the promise that he could get a free spin.
Options for this question include:
A. No contract was formed because Jack paid no money for his chance at the Million Dollar Wheel.
B. No contract was formed because ABC did not sign any written contract as an obligation to do so.
C. A contract was formed because filling out an application can constitute legal consideration.
D. A contract was formed because no consideration is needed when a customer takes advantage of a "free" offer.
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what are the similarities between a business brokerage and a real estate brokerage?
The similarities between a business brokerage and a real estate brokerage are:
1.Both deal with Real Property.
2.Both require a Real Estate License.
3.Both involve Long-term Liabilities.
What is business brokerage?A business broker is the one that act as intermediary between the buyer and the seller in a business transaction.
A real estate brokerage is a person, who has license to negotiate and arrange transactions between two or more parties involves in a contract.
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Question 3 of 20
International accountants need to keep track of
and gains when doing business in other countries.
OA. business success rates
B. exchange rates
OC. unemployment rates
OD. gross domestic product growth rates
which can affect losses
The International accountants need to keep track of the exchange rates and gains when doing business in other countries.
Why are exchange rates and gains important?These are important because this can affect the level of gains because the currency values in exchange differs.
Hence, they need to keep track of the exchange rates and gains when doing business in other countries.
Therefore, the Option B is correct.
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In which life cycle phase do project sponsors become most actively involved in the project?
The life cycle phase in which project sponsors become most actively involved in the project is the Initiation phase. Read below about life cycle phase.
What is a life cycle phase in project?The project life cycle involves the procedures required for project managers to successfully manage a project from begining to end.
What are the phases to the project life cycle?There are five (5) phases to the project life cycle and they include the following:
initiating, planning, executing, monitoring/controlling, and closing.Therefore, the correct answer is as given above.
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the mortgage and the deed of trust are ______ that pledge property as collateral for a loan.
The mortgage and the deed of trust are security deeds that pledge property as collateral for a loan.
What are security deeds?Security Deed is a document containing properties and material's that are used as security for loans.
It is for the lender and borrower.
Therefore, The mortgage and the deed of trust are security deeds that pledge property as collateral for a loan.
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A driver brought an action for negligence against a motorcyclist in federal district court arising out of a car accident. The motorcyclist collided with the driver's car after he was unable to brake in the rain while driving down a hill. At the close of all evidence, the motorcyclist moved for judgment as a matter of law. The court denied the motion and submitted the case to the jury. Following a brief deliberation, the jury returned a verdict in favor of the driver, assessing $100,000 in damages. The court then entered judgment against the motorcyclist. Six months later, the manufacturer of the motorcycle issued a product recall for the brakes. The manufacturer had discovered that the brakes did not operate in the rain if the motorcycle was being driven downhill. Neither the manufacturer nor the motorcyclist was aware of this defect during the motorcyclist's trial, despite examination of the motorcycle by experts. At this point, what is the appropriate motion for the motorcyclist's lawyer to file
Given the case that is presented here the best thing for the lawyer to file would be a Relief from judgment.
What is a relief from judgment?This can be described as the motion that is made to a law court that has them asking for the correction of a mistake that was made in the given judgment.
This could be as a result of certain mistakes and oversights. From what is read here, neither the manufacturer or the cyclist was aware of the defect at the time that the trial was ongoing.
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Dan is creating a survey for his company. The question he is currently working on asks his business-to-business customers to describe the ideal purchasing transaction. Dan is utilizing a(n) ________ question.
Dan is utilizing an open ended question. Thus option (C) is correct.
What is open ended question?Open ended questions are the questions which can answered in the statement. It is not the yes or no type of the question or the type of the static question.
The complete question is attached below.
Open-ended questions require the respondent to elaborate on their points rather than receiving a simple "yes" or "no" response.
The Feedback is received from clients in their own words rather than canned responses, open-ended questions assist in thinking about situations from customers perspective. Thus option (C) is correct.
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Six years ago, HOPCO granted Mr. Sing a nonqualified option to purchase 1,000 shares of HOPCO stock at $55 per share. On date of grant, the market price was $50 per share. This year, Mr. Sing exercised the option when the market price was $64 per share. How much ordinary income does Mr. Sing recognize because of the exercise
Based on the option that Mr. Sing exercised, the ordinary income recognized would be $0.
What income will Mr. Sing recognize?Income will be recognized when the shares are sold by Mr. Sing because the selling price is necessary to calculate income.
As the shares are yet to be sold, there will be no income recognized by Mr. Sing.
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Oriole industries had sales in 2021 of $7,480,000 and gross profit of $1,210,000. management is considering two alternative budget plans to increase its gross profit in 2022. plan a would increase the selling price per unit from $8.00 to $8.40. sales volume would decrease by 137,500 units from its 2021 level. plan b would decrease the selling price per unit by $0.50. the marketing department expects that the sales volume would increase by 143,000 units. at the end of 2021, oriole has 47,000 units of inventory on hand. if plan a is accepted, the 2022 ending inventory should be 43,000 units. if plan b is accepted, the ending inventory should be equal to 78,000 units. each unit produced will cost $1.50 in direct labor, $1.30 in direct materials, and $1.20 in variable overhead. the fixed overhead for 2022 should be $2,086,000. prepare a sales budget for 2022 under each plan.
The sales budget for Plan A is $6,699,000 and Plan B is $8,085,000.
Sales Budget for 2022Plan A
Sales (units) 797,500
($7,480,000/$8=937,500)
(935,000-137,500=797,500)
Selling Price $8.40
($8.00 + $0.40)
Sales (dollars) $6,699,000
(797,500×$8.40)
Plan B
Sales (units) 1,078,000
(935,000+ 143,000=1,078,000)
Selling Price $7.50
($8.00 - $0.50)
Sales (dollars) $8,085,000
(1,078,000×$7.50)
Therefore the sales budget for Plan A is $6,699,000 and Plan B is $8,085,000.
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Why should we be careful about what we post on social media and the internet?
One should be careful about posting on social media platforms because this post enables viewers to frame a mindset about an individual and their personality.
What is a social media platform?Social media platform refers to a stage where people communicate with each other and share their opinions and knowledge on different content.
One should be careful while posting on social media because the content posted on these platforms will lead to the evaluation of the personality and mindset of an individual by the audience. These evaluations can be both negative and positive.
These platforms play a key role in a career when an employer checks the background history of a candidate. Any posts that create a negative impact will lead to spoil the impression before the hiring manager.
Therefore, it is important to be careful while posting stuff on social media.
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The mortgage bankers and real estate companies who helped create the financial crisis of 2008 were driven by.
A majority of the mortgage bankers and real estate companies who were influential in the creation of the financial crisis in the year 2008 were driven by affordable housing for the United States' people.
What is the significance of 2008 financial crisis?The financial crisis of 2008, which lasted until early 2009, was caused by the luring the schemes of affordable housing for the US citizens by some of the biggest global mortgage bankers and real estate companies by coming in close collaborations.
The 2008 financial crisis was influential in complete destruction of global economic conditions. This was one of the first big level crises of the 21st century.
Hence, the causes of 2008 financial crisis are aforementioned.
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The top management of hipster clothing decides to set up an online store to cater to the changing business environment and reach out to the hispanic market. the management also identifies that the success of the company will depend on its ability to create and develop new products and processes in the next two years. this is an example of
I they create and develop new products and processes in the next two years. This is an example of strategic planning.
What is strategic planning?Strategic planning can be defined as those goals and objective a company or organization intend to achieve in the future.
Based on the given scenario the company is engaging in future Strategic planning as they intend to develop new products and processes in the next two years.
Therefore this is an example of strategic planning.
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How is compound interest different from simple interest?
Answer: How is compound interest different from simple interest?
Explanation: Simple interest is interest payment is calculated on only the principal amount; whereas compound interest is interest calculated on both the principal amount and all the previously accumulated interest.
You welcome
What things should you consider when setting up a checking or savings account with a financial institution?
Answer:
What profit will you get
A business's accounting systems include a(n) _____ system, which tracks the amounts of money owed and paid by customers to the company and from the company to vendors and others.
A business's accounting systems include an account receivable system, which tracks the amounts of money owed and paid by customers to the company and from the company to vendors and others.
What is an accounting system?The business accounting system is what assist a business keep track of the business transactions which includes income and other related expenses.
Hence, a business's accounting systems include an account receivable system, which tracks the amounts of money owed and paid by customers to the company and from the company to vendors and others.
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The production possibilities curve below shows the hypothetical relationship between the production of guns (national defense) and butter (social goods) in an economy. Combination Guns Butter A 0 4 B 14 3 C 26 2 D 36 1 E 44 0 Your response should be a number ONLY. What is the marginal opportunity cost of producing the second unit of butter
If we will increase the production of butter from 1 to 2, then the Guns production will decreases from 36 to 26. Thus, marginal opportunity cost of second unit of butter is 10 guns.
What is marginal opportunity cost?The marginal opportunity cost refers to the measurement of the amount of a good that has to be sacrificed for each additional unit of the other good.
It is the cost incurred during the production of a unit or item.
Formula of Marginal opportunity cost =△gain of output △loss of output.
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the kind of business that would use the specific identification method of inventory costing includes:
The kind of business that would use the specific identification method of inventory costing includes:
Car dealershipsJewelry storesArt galleries Furniture storesSpecific identification method to inventory are often use by companies and be defined as the process in which each inventory is specify or identify for easy tracking.
Companies tend to use this method when they want to track each items they have in their inventory.
Therefore the kind of business that would use the specific identification method of inventory costing includes: car dealerships.
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On January 1, Ramirez Supply leased a car for a four-year period, at which time possession of the car will revert back to the lessor. Annual lease payments are $14,100 due on December 31 of each year, calculated by the lessor using a 10% discount rate. Negotiations led to Ramirez guaranteeing the lessor a $42,300 residual value at the end of the lease term although Ramirez estimates that the residual value after four years will be $40,200. What is the amount to be added to the right-of-use asset and lease payable under the residual value guarantee
Based on the amount that Ramirez guaranteed the lessor and the estimated residual value, the amount to be added to the right-of-use asset is $1,434.33.
What amount should be added to the right-of-use asset?This would be the present value of the difference between the guaranteed amount and the estimated residual value.
= 42,300 - 40,200
= $2,100
Present value:
= 2,100 / (1 + 10%)⁴
= 1,434.328
= $1,434.33
In conclusion, the right-of-use asset amount to be added is $1,434.33.
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Which factor would credit card companies most likely use to determine a applicant's creditworthiness?
A. Political ideology
B. Number of children
C. Occupation and salary
D. Race and ethnicity
A factor that is used to determine an applicant's creditworthiness is occupation and salary.
What determines an applicant's creditworthiness?An applicant's creditworthiness is the measure of the ability to be able to repay a debt. The creditworthiness is determined by occupation and salary and faithfulness with repaying previous debts. A credit score is usually used to indicate credit worthiness.
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