Minimum wage is an example of a price floor, shortage ceiling; shortage floor, surplus ceiling; surplus

Answers

Answer 1

It is intended to prevent suppliers from charging excessively high prices to consumers. This can create a surplus of goods in the market, which leads to lower prices and lower revenues for suppliers.

Minimum wage is a type of price floor, which is a minimum legal price established by the government that a product or service must be sold for. In this case, minimum wage determines the minimum hourly rate that employers are required to pay their employees. It is used as a tool to protect workers from exploitation and to ensure that they are compensated fairly for their work. In this sense, minimum wage is a form of government intervention in the labor market. The minimum wage is intended to prevent employers from paying their workers less than a certain amount by setting a price floor. This price floor creates a shortage of labor in the labor market because there are more workers available than jobs.

Employers have to pay a higher wage to attract workers, which results in higher labor costs. This can lead to a decrease in the demand for labor as employers may choose to automate or outsource their operations to lower-wage countries. A shortage floor is the opposite of a price floor.

It is the minimum legal price that a product or service can be sold for. A shortage floor creates a surplus of goods in the market because there are fewer buyers than sellers. This results in lower prices and a decrease in revenue for suppliers. A surplus ceiling is the maximum legal price that a product or service can be sold for.

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Related Questions

Prompt
There are many different ways interviews can be conducted, including face-to-face, distance, group, and performance
Which style would you prefer the most? Why? Which style would you prefer the least? Why?
<< Read Less
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Save and Fyit

Answers

Answer:

If your asking personally, I would say face to face because it provides an opportunity to closely examine the person your interviewing. You get to see their facial reactions, body language and tone of voice to see if they fit the criteria your looking for. I say the least favored would be distance because distance interviews can go wrong in so many ways. You have to set up times and those can be messed up. You can't tell if the person your are interviewing is putting up a front, their professional at first, but once you hire them that become a nightmare! This is all based off of personal choice though, I would say go for the easiest interview method for you.

Explanation

Hope this works!

Answer:

If your asking personally, I would say face to face because it provides an opportunity to closely examine the person your interviewing. You get to see their facial reactions, body language and tone of voice to see if they fit the criteria your looking for. I say the least favored would be distance because distance interviews can go wrong in so many ways. You have to set up times and those can be messed up. You can't tell if the person your are interviewing is putting up a front, their professional at first, but once you hire them that become a nightmare! This is all based off of personal choice though, I would say go for the easiest interview method for you.

Explanation:

Question 2 of 20
If you choose to own a credit card, it is important to:
0 A. pay
A. pay off the balance each month.
B. make minimum payments each month.
O C. use more than one credit card to distribute the costs.
O D. use credit cards as often as possible.

Answers

Answer: (B)

Explanation: so you can save your money that is the wi way

cybercrime is often described as an illicit market. which of the following are participants in that illicit market? question 8 options: administrators intermediaries vendors mules all of the above

Answers

Cybercrime is indeed often described as an illicit market. In this context, participants in that illicit market include administrators, intermediaries, vendors, mules, and all of the above.

Cybercrime is a type of criminal activity that involves the use of computers and the internet to commit illegal acts. This activity is often described as an illicit market because it operates similarly to a black market, with various participants fulfilling specific roles. These participants include administrators who run underground forums and marketplaces, intermediaries who connect buyers and sellers, vendors who sell illegal goods and services, mules who transfer money and goods between participants, and others who may provide specialized services such as hacking or malware development. Together, these participants form a complex network of criminal activity that is difficult to detect and prosecute.

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Briefly discuss the three reasons why financial intermediaries
are needed? You need to give example on each.

Answers

Financial intermediaries are institutions or entities that act as intermediaries between lenders and borrowers in the financial market. They play a crucial role in the economy by facilitating the flow of funds from savers to borrowers. There are three main reasons why financial intermediaries are needed:

1. Risk Reduction: Financial intermediaries help to reduce the risk faced by both lenders and borrowers. They achieve this by pooling funds from multiple savers and then lending them out to borrowers. This diversification of funds helps to spread the risk among a large number of borrowers, reducing the impact of defaults. For example, banks collect deposits from numerous individuals and use those funds to provide loans to various businesses. If one borrower defaults, the impact on the bank's overall portfolio is minimal due to the diversified nature of the loans.

2. Liquidity Transformation: Financial intermediaries also transform the liquidity preferences of savers and borrowers. While savers typically prefer highly liquid investments, borrowers often require long-term funding. Financial intermediaries bridge this gap by offering liquid assets to savers while providing long-term loans to borrowers. For instance, mutual funds allow individuals to invest in a diversified portfolio of stocks and bonds, offering easy access to their investment, despite the underlying assets being less liquid.

3. Information Efficiency: Financial intermediaries possess expertise and knowledge about potential borrowers that individual savers may lack. They conduct thorough credit assessments and gather information about borrowers' creditworthiness. This allows them to allocate funds to borrowers who are most likely to repay their loans. A prime example is credit rating agencies that evaluate the creditworthiness of companies and provide ratings based on their analysis, assisting investors in making informed investment decisions.

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What decision did a London Court Reach In this case?

What decision did a London Court Reach In this case?
What decision did a London Court Reach In this case?

Answers

Answer:

A.

Explanation:

I did B from the person above and got it wrong and it said that A was the answer :)

Answer:

A. The writing of The Da Vinci Code did not violate copyright law.

Explanation:

Right on ED2021, goodluck!

***ECONOMICS***
I’ll give a brainliest !

Economists calculate the trade-weighted value of the U.S. dollar by:
O A. examining the confidence global investors have in the dollar as a
reserve currency.
B. analyzing the decline in the dollar's purchasing power over time
due to inflation.
c. comparing the value of the dollar to currencies used by major U.S.
trading partners.
D. subtracting the market value of the U.S. dollar from the market
value of gold.

Answers

I believe it is C: by comparing the value of the dollar to currencies used by major US trading partners

What best describes the main purpose of a budget

Answers

Explanation:

A budget helps create financial stability. By tracking expenses and following a plan, a budget makes it easier to pay bills on time, build an emergency fund, and save for major expenses such as a car or home. Overall, a budget puts a person on stronger financial footing for both the day-to-day and the long term.

Which one of these is not an advantage of Kaplan and Norton's Balanced Scorecard?
1. Allows staff to see how roles fit with mission/objectives
2. Monitoring means any poor performance can be addressed
3. Gives shareholder value ultimate priority
4. Provides a broader view

Answers

The option that is not an advantage of Kaplan and Norton's Balanced Scorecard is Gives shareholder value ultimate priority. (3)

Gives shareholder value ultimate priority. The Balanced Scorecard focuses on four different perspectives, including financial, customer, internal processes, and learning and growth, rather than solely prioritizing shareholder value.

It provides a broader view of an organization's performance and allows for the monitoring and addressing of any poor performance. It also helps staff understand how their roles fit with the organization's mission and objectives.

Therefore, option 3 is not an advantage of the Balanced Scorecard.

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What is normative economics concerned with? ​

Answers

Answer: Normative economics is concerned with value judgements.

Explanation:  It deals with the study of and presentation of policy prescriptions about economics. Normative statements are statements which cannot be supported or refuted by evidence. Ultimately, they are opinions about how economics and markets should work.

Answer:

Normative economics focuses on the value of economic fairness, or what the economy "should be" or "ought to be." While positive economics is based on fact and cannot be approved or disapproved, normative economics is based on value judgments.

Explanation:

Describe one brand that you like the most. Connecting to what we have learnt about the symbolic meaning of consumption, please explain the symbolic meanings you believe the brand has, and how this brand expresses an important part of your self-concept. one page

Answers

The brand I like the most is Nike.

Symbolic Meanings:
- Success and Achievement: Nike is known for its slogan "Just Do It," which promotes the idea of pushing oneself to achieve greatness. The brand's association with successful athletes and their endorsement deals symbolize hard work, determination, and the pursuit of excellence.
- Athleticism and Fitness: Nike's products are primarily focused on sports and fitness, symbolizing an active and healthy lifestyle. The iconic Nike swoosh logo represents movement and speed, further reinforcing the brand's association with athleticism.
- Individuality and Self-Expression: Nike offers a wide range of products that cater to different sports, preferences, and styles. By allowing individuals to customize their sneakers and apparel, Nike promotes self-expression and allows customers to create a unique identity through their chosen products.

Expression of Self-Concept:
Nike expresses an important part of my self-concept by aligning with my values of perseverance, health, and self-expression. As an athlete, I am motivated by Nike's emphasis on success and achievement, which inspires me to set and pursue challenging goals. Wearing Nike products also reflects my commitment to an active lifestyle and the pursuit of physical fitness. Additionally, the brand's customizable options allow me to express my unique style and preferences, reinforcing my sense of individuality. Overall, Nike represents my identity as a determined, active individual who values personal growth and self-expression.

Therefore, the brand I like the most is Nike.

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3
what is not example of an Internal Stakeholder?
-
O
Owner
Customers
Manager
Employees
None of the Above

Answers

Answer:Imagine you’re Charlie in Willy Wonka and the Chocolate Factory.

This whole business is all yours! Run around it, eat all the free snacks, enjoy all of the delicious, owning-your-own-business feelings. And then get into work the next day and realize…

Who actually does all of the stuff here? Who’s actually running this place?

Well you, of course. But not just you. Many people have personal and financial interests in your business, and those people are called stakeholders.

What types of stakeholders do you need in business? In this post you get to learn:

The 10 types of stakeholders you meet in business

Stakeholder vs. shareholder – have you been referencing the wrong one?

What types of stakeholders are there?

No, that’s not a typo. Each of the types of stakeholders in a business are categorized in 3 ways:

Internal or external

Primary or secondary

Direct or indirect

Internal stakeholders are, as the name suggests, stakeholders that exist inside a business. These are stakeholders who are directly affected by a project, such as employees.

External stakeholders are those who have an interest in the success of a business but do not have a direct affiliation with the projects at an organization. A supplier is an example of an external stakeholder.

Explanation:

conscious marketing encompasses all of the following overriding principles except

Answers

Conscious marketing is a marketing philosophy that emphasizes promoting and delivering value to customers while considering the impact of business practices on society and the environment.

It encompasses various principles such as authenticity, transparency, customer-centricity, social responsibility, and sustainability. However, there is no definitive list of overriding principles of conscious marketing, and different sources may define it differently.That being said, based on common definitions of conscious marketing, it is possible to identify some key principles that it generally includes. These may include putting the customer first, being transparent and truthful in marketing communication, providing value while respecting ethical and environmental standards, engaging in socially responsible practices, and promoting sustainability.Therefore, the answer to the question is not straightforward, as it is unclear which principles the question is referring to. However, it is safe to say that conscious marketing generally includes the principles mentioned above and may not include those that conflict with these values, such as deceptive or manipulative marketing practices.

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As of december 31, 2013, how many deferred tax liabilities (net of deferred tax assets) did colgate have? please provide your answer in millions, without comma separator or decimal (ex: 23456)

Answers

Tax expense for the period, comprising current tax and deferred tax, should be included in the determination of the net profit or loss for the period. Taxes on income are considered to be an expense incurred by the enterprise in earning income and are accrued in the same period as the revenue and expenses to which they relate. Such matching may result into timing differences. The tax effects of timing differences are included in the tax expense in the statement of profit and loss and as deferred tax assets

Net deferred tax liabilities :

The deferred tax liability on a company balance sheet represents a future tax payment that the company is obligated to pay in the future

It is calculated as the company's anticipated tax rate times the difference between its taxable income and accounting earnings before taxes.

Deferred tax liability is the amount of taxes a company has "underpaid" which will be made up in the future. This doesn't mean that the company hasn't fulfilled its tax obligations. Rather it recognizes a payment that is not yet due.  

For example, a company that earned net income for the year knows it will have to pay corporate income taxes. Because the tax liability applies to the current year, it must reflect an expense for the same period.

But the tax will not actually be paid until the next calendar year. In order to rectify the accrual/cash timing difference, tax is recorded as a deferred tax liability.

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write the short note on durable and non durable materials ​

Answers

Durable goods are those goods that don't wear out quickly and last over a long period. ... While non-durable goods or soft goods are those goods that have a short life cycle. They are used up all at once or have a lifespan of fewer than three years. For example light bulbs, paper products, and food products.

this form will be sent to Lily by the end of January. She will use this form to...

Answers

Answer:

\(\large\colorbox{white}{File her income taxes}\)

Explanation:

\(\large\colorbox{orange}{ɪ ʜᴏᴘᴇ ɪᴛ ʜᴇʟᴘs}\)

\(\large\colorbox{lime}{Xxᴊᴀsʜ13xX}\)

Your job pays you $1600per month all taxes combined reduce your pay by 25% your current expenses are $1200 per month you want to join a health club for $75 per month can you afford it

Answers

Answer:

1600 - 25% of 1600 = 1600 - 0.25*1600 = 1200

So after you take 25% of 1600 away from 1600, you're left with 1200

So you are *really* paid $1,200 a month (instead of $1,600 a month) after you take out all taxes.

 

Your expenses are $1,200, so you will have 1200 - 1200 = 0 dollars left over

So you CANNOT afford the health club or any additional expenses. This is assuming you don't rely on a credit card or other forms of loans.

Explanation:

Because susans standard deduction is greater than the amount she made, it turns out that Susan never owed taxes. How large of a refund should she expect from the Federal
government if she follows through on filing her 1040 form

Answers

Note that if Susan's standard deduction is greater than the amount she made, it means her taxable income is zero. If she had any taxes withheld from her paychecks throughout the year, she would be eligible for a full refund of those taxes.

What is the rationale for the above response?

Assuming Susan is a single taxpayer under the age of 65 and not claimed as a dependent on anyone else's tax return, her standard deduction for tax year 2022 (filing in 2023) would be $12,950.

If Susan's total income for the year is less than or equal to $12,950, she would owe no federal income tax and would be eligible for a full refund of any federal income tax withheld from her paychecks or estimated tax payments she made throughout the year.

The exact amount of her refund would depend on how much federal income tax was withheld from her paychecks or paid in estimated tax payments throughout the year. Susan can determine the amount of her refund by completing her tax return using Form 1040 and any other applicable forms and schedules.

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Prices are rising (inflation) but wages have stayed the same. This makes it difficult for people to afford products they need.

What can the government do to help with this problem?

Does this expand or contract the government - explain?

Answers

Answer:

Its up to the government

Explanation:

We cant do things for them but we can make them consider what we could do

Answer:

yes it expands.

Explanation:

it's obvious

If a company receives $11,400 from a client for services provided, the effect on the accounting equation would be:________

Answers

If a company receives $11,400 from a client for services provided, the effect on the accounting equation would be: increase in assets and equity

What is accounting equation?

The accounting equation indicates that all assets of a company are financed from equity and liabilities, in essence, total assets are the same as the sum of equity and liabilities

assets=equity+ liabilities

A receipt of $11,400 for services provided would impact assets, in that cash would increase, which means assets would increase by $11,400 and also on the premise that such services were provided for cash, the sales revenue which flows into equity would also increase.

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Sales in 2015 1400000 at December 31,2015, before adjusting entire account receivable 250000debit allowance for doubt full account 2400 credit 2% net sales will prove uncollectible, prepare the December 31,2015, journal entry to record bad debt expense.

Answers

Answer:

Dr Bad Debt Expense $28,000

Cr Allowance for Doubtful Accounts $28,000

Explanation:

Preparation of the December 31,2015, journal entry to record bad debt expense.

Based on the information given the December 31,2015, journal entry to record bad debt expense will be :

Dr Bad Debt Expense $28,000

Cr Allowance for Doubtful Accounts $28,000

($1,400,000 *2%)

(To record bad debt expense)

In your own words, define what the precise economic meaning of unemployed is. What are the three types of unemployment and how do they differ in who is affected and how? In your journal entry, provide an example for each type of unemployment. For example, a switchboard operator would have found herself structurally unemployed with the advances in the telephone

Answers

In my own words, the precise economic meaning of unemployment refers to the situation where individuals who are actively seeking employment are unable to find work. There are three main types of unemployment: frictional, structural, and cyclical. Each type affects different groups of people and has unique causes.

1. Frictional unemployment occurs when people are temporarily out of work while transitioning between jobs or looking for a new job that better suits their skills. This type of unemployment is common and affects workers across various industries. For example, a recent college graduate may experience frictional unemployment while searching for their first job after graduation.

2. Structural unemployment results from changes in the economy, technology, or consumer preferences that create a mismatch between the skills of the unemployed and the skills required for available jobs. This type of unemployment affects workers in industries undergoing significant change or obsolescence. For example, a switchboard operator would have found herself structurally unemployed with the advances in the telephone.

3. Cyclical unemployment occurs due to fluctuations in the overall economic activity, such as recessions or depressions. This type of unemployment affects workers across all industries when the economy slows down, and businesses cut back on hiring or lay off employees. For example, a construction worker may face cyclical unemployment during an economic recession when the demand for new construction projects is low.

In summary, the economic meaning of unemployment refers to individuals actively seeking work but unable to find it. The three types of unemployment - frictional, structural, and cyclical - differ in their causes and the groups affected. Examples include a recent college graduate experiencing frictional unemployment, a switchboard operator facing structural unemployment, and a construction worker dealing with cyclical unemployment during a recession.

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A bank estimates that its profit next year is normally distributed with the mean and the standard deviation shown in the table below: a. How much equity (as a percentage of assets) does the company need to be 99% sure that it will have a positive equity at the end of the year? Ignore taxes. b. How much equity (as a percentage of assets) does the company need to be 99.9% sure that it will have positive equity at the end of the year? Ignore taxes.

Answers

Z-score, also known as a standard score, is a statistical measure that quantifies how far a particular data point is from the mean of a distribution.To calculate the equity required, we need to find the value that corresponds to the desired confidence level in the normal distribution.

a. To be 99% sure of having positive equity at the end of the year, we need to find the z-score that corresponds to a cumulative probability of 0.99. This can be done using a z-table or a calculator. Once we have the z-score, we can use the formula:

Equity = Mean + (Z-score * Standard Deviation)

b. Similarly, to be 99.9% sure of having positive equity, we need to find the z-score that corresponds to a cumulative probability of 0.999. Using the same formula as above, we can calculate the equity required.

For both parts, it is important to convert the equity into a percentage of assets by dividing the equity by the total assets and multiplying by 100.

Let's say the mean profit is 100 units and the standard deviation is 10 units.

a. Assuming a normal distribution, the z-score corresponding to a cumulative probability of 0.99 is approximately 2.33.
So, Equity = 100 + (2.33 * 10) = 123.3 units.
Percentage of assets = (123.3 / Total Assets) * 100

b. Assuming a normal distribution, the z-score corresponding to a cumulative probability of 0.999 is approximately 3.09.
So, Equity = 100 + (3.09 * 10) = 130.9 units.
Percentage of assets = (130.9 / Total Assets) * 100

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What are the current fiscal and monetary policies of the Biden administration

Answers

In August 2022, his Inflation Reduction Act became law. Real GDP, salaries, employment, stock market returns, and household net worth all experienced significant increases in Biden's first year in office (2021), but inflation also rose.

The unemployment rate averaged 3.6% in his second year (2022), which was the lowest level since 1969. Compared to President Joe Biden, his administration's GDP growth was by far the highest, increasing by more than 1%. But he also had the third-highest unemployment rate and the highest inflation rate.

On Wednesday, January 20, 2021, Joe Biden was sworn in as the 46th president of the United States, beginning a four-year administration that also included Kamala Harris as vice president.

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True Stories Company sold the rights to a documentary film. They are expecting significant revenue in Year 1. The revenue stream is expected to decrease steadily until it reaches zero in Year 5. Based on this Which depreciation method should be used to most closely match the expense to the revenue stream the asset produces

Answers

The best depreciation method for this company is the double-declining-balance

In economics, depreciation occurs when a product gradually loses its value. The most common causes of depreciation are:

The product becomes obsoleteWear and tear of the productThe product's popularity decreases

Moreover, there are different methods to understand this decline in value that include:

Double-declining balanceStraight lineUnits-of-production

The double-declining balance method implies depreciation is not constant over the years but as years pass the depreciation increases. This method applies to True Stories Company because it is expected the documentary film becomes less and less popular every year, and therefore depreciation is accelerated not constant.

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Outline why it is important for a business owner to respond to technological and global issues when establishing a business?

Answers

Technology enables an increase in the efficiency of systems, products, and services. It helps track and streamline strategies, hold records go with the flow, and control contacts and employee records.

In reality, this expanded efficiency in operation enables lessened costs as well as allows the commercial enterprise to develop swiftly.

Technology has vital consequences on commercial enterprise operations. Irrespective of the scale of your business enterprise, technology has both tangible and intangible advantages that will help you make money and produce the results your customers demand. Technological infrastructure affects the subculture, performance, and relationships of a business.

The use of technology has made commercial enterprises and clients closer in many areas. E-mail and Social Media are getting used for answering queries related to products and services with clients. Giving customers all feasible methods to contact the agency is simple with the latest technology and packages over the internet.

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ତିନୋଟି ମୁଖ୍ୟ ପ୍ରକାରର କ’ଣ?
\( \: \: \: \)

Answers

Answer: ମୁଁ ଇଂରାଜୀ କହୁଛି କିନ୍ତୁ ତୁମର ପ୍ରଶ୍ନ କ’ଣ? ମୋର ଓଡିଆ ଖରାପ |

Explanation:

What is advertising??

Answers

Answer:

the activity or profession of producing advertisements for commercial products or services.

Explanation:

Answer:

the activity or profession of producing advertisements for commercial products or services.

"movie audiences are receptive to advertising"

advertisements collectively.

"despite being instructed to take the signs down, he says he has no intention of removing the advertising"

Explanation:

dvertising is a means of communication with the users of a product or service. Advertisements are messages paid for by those who send them and are intended to inform or influence people who receive them, as defined by the Advertising Association of the UK.

All the following statements concerning requirements to reinstate a lapsed life insurance policy are correct EXCEPT: Group of answer choices The lapse must have resulted from other than the surrender of the policy for its cash value. There is no time limit on when the policy may be reinstated. Evidence of insurability is required. All overdue premiums must be paid along with interest from the premium due dates.

Answers

Answer:

Correct Answer:

b. There is no time limit on when the policy may be reinstated.

Explanation:

In life insurance, which is an insurance against event in the life of the individual in question, it is expected that, the person will be paying his premium fee regularly.

In a situation, there was a lapses, in-order to reinstate the life insurance policy, it must be reinstated within 1 year in-order to be valid.

If a stock you buy is $50 per share and pays $2 per year in total dividends;
what is the dividend yield of the stock?*

Answers

Answer:

4%

Explanation:

Dividend yield shows the dividends paid out annually as a percentage of the share market price.

The formula for calculating dividend yield is the annual dividend per share/market value per share.

Dividend yield = dividend/ market share price x 100

Dividend yield = 2/50 x 100

Dividend yield = 0.04 x 100

Dividend yield = 4%

Question 7 of 10
What is the main disadvantage of overdraft protection?
A. Banks usually charge a fee when it is used.
B. Banks take several days to process the transaction.
C. It keeps a check from being returned due to insufficient funds.
D. It requires customers to maintain a positive account balance.

Answers

Answer:

b because I would say in am 72% sure I am right

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