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According to the News on page 677, what percentage of retail jobs would be lost if the minimum wage were increased to $9.50? Obama Wants $9.50 Minimum Wage (Crains)- When Barack Obama and his fellow Democrats take power in Washington, DC. restaurant operators are expecting them to push a minimum wage hike. Obama wants to boost the federal minimum wage to $9.50 an hour by 2011, up from $7.25 an hour in 2009. Minimum Wage The National Restaurant Association opposes raising the minimum wage, which has gone to $6.65 this year from $5.15 in 2006, and is scheduled to rise to $7.25 in July. The association In June conducted a survey of 1,300 members in 18 states that found that 58 percent raised menu prices and 41 percent reduced employee hours because of the higher minimum wages. Joe Sabia, an assistant professor of public policy at American University in Washington, DC. says that a 10 percent increase in minimum wage reduces retail employment by 1 percent. Obama's proposal would raise the federal minimum wage by over 30 percent, causing even greater job loss at a time when our economy can least afford it. Mr. Sabia contends.
The diesel-powered generator with a cost of $60,000 is expected to have a useful operating life of 50,000 hours. The expected salvage value of the generator is $8,000. In its first year, the generator was operated for 5,000 hours.
Company A just paid a $3.00 dividend per share. The dividend is expected to grow at a 4% rate indefinitely. The beta of the stock of Company A is 1.5. The market risk premium is 8% and the risk-free rate is 3%. (a) What is the expected return on t..
An engineering firm wants to sponsor a new lab at the local university. This requires $2.5 Million to construct the lab, $1.2 Million to equip it, and $600,000 every 5 years for new equipment. What is the required endowment if the university will ..
Some time ago you put $500 into a bank account for a "rainy day". Since then, the bank has been paying you 1% per month, compounded monthly. Today, you checked the balance and found it to be $708.31. How long ago did you deposit the $500
The first cash flow of a 25 year series of quarterly is equal to 35000. Each cash flow in the series increases by 800. Find the amount of each cash flow in an equal quarterly cash flow series that is equivalent to the increasing cash flow series.
The first provides foundation and structural details so that two additional stories can be added to the required initial two stories at a later date and without modifications to the original structure. by what time would the additional two stories ..
If they both choose the Casual line, they will each make profits of $1000 per week. If Bells chooses Formal while Follies chooses Casual, then Bells will make $500 and Follies will make $1500 per week. If Bells chooses Casual while Follies choos..
Consider the production function f(L;K) = L + K. a. Suppose K is ?xed at 2. Find algebraic expressions for the total product of labor function TP(L), the average product of labor AP(L), and the marginal product of labor MP(L).
Market demand is given as QD = 200 - 3P. Market supply is given as QS = 2P + 100. Each identical firm has MC = 0.5Q andATC = 0.25Q. 1.) What quantity of output will a typical firm produce 2.) What is a firm's average total cost 3.) What is each firm..
At a particular academically challenging high school, the average GPA of a high school senior is known to be normally distributed with a variance of 0.25. A sample of 20 seniors is taken and their average GPA is found to be 2.71
According to U.S. Census Bureau data (2004), average monthly income for a person with a degree in engineering was $5296 versus $3443 for a degree in liberal arts. What is the future value in 40 years of the income difference at an interest rate of..
Farma Inc. is working on the development of a new drug to combat Fingulesa. It has identified two strategies to pursue. Strategy one has a probability of success of 40% and strategy 2 has a probability of success of 60%.
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