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Question: The Coalition of Immokalee Workers (CIW) claims that the going wage for farm labor is exploitative. The CIW supports a minimum wage for farm workers. Explain how the minimum wage would affect a farm's hiring decision. Are farm workers better off under this policy?
Pete's a kid and his weekly allowance is $10. He spends his entire allowance between gummi bears and chocolate. A price of a pound of gummi bears.
A student finishes her college after accumulating a $30,000 federally backed student loan over 4 years. The loan charges 3.5 % interest compounded monthly. What is her monthly payment if she wants to repay the loan (amortize) over the next 6 years..
What does it mean to critically evaluate an economic event or resource in the context of an accounting standard; what is actually being evaluated and how?
Introduction to Microeconomics Problem Set - Is this farm able to produce 12,000 bushels of corn and 8,000 bushels of soybeans? What does this combination of output suggest about the use of resources?
If $100 at Time "0" will be worth $110 a year later and was $90 a year ago, compute the interest rate for the past year and the interest rate next year.
When the market is in equilibrium, what is the consumer surplus and producer surplus? Calculate it numerically. When the market is in equilibrium, what is the price elasticity of demand at (Q*, P*)? Calculate it numerically and interpret your calcu..
Recently in Oklahoma, lawmakers have increased the minimum wage to $8.00/hr because the old minimum wage ($5.25/hr) was found to be ineffective. Is a minimum wage law a price floor or a price ceiling? Describe.
Tariffs and quotas can be used to achieve similar ends. In fact, for any given quota, there is an equivalent tariff that will limit imports to exactly the same amount. Still, there are differences between quotas and tariffs.
When a worker announces that he plans to quit, say next month, the "threat" of being fired has no bite. The worker may find it in his interest to shirk. What can the manager do to overcome this problem?
Find the ethics code for the professional society of your major. What are its similarities and differences in comparison to NSPE's ethics code?
The CFBT for the machine is estimated at $20,000. If a recovery period of 5 years applies, use the present-worth-of-taxes criterion, an effective tax rate of 35%, and a return of 8% per year to compare the following: straight line, DDB, and MACRS ..
An electric generator was purchased for $15,000. Use the sum-of-years digits (SOYD) depreciation accounting method with a $2,000 salvage value and a 10-year.
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