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a) Suppose the minimum wage is above the equilibrium wage in the market for unskilled labor. Using a supply-and-demand diagram of the market for unskilled labor, show the market wage, the number of workers who are employed, and the number of workers who are unemployed. Also show the total wage payments to unskilled workers. b) Now suppose the secretary of labor proposes an increase in the minimum wage. What effect would this increase have on employment? Does the change in unemployment depend on the elasticity of demand, the elasticity of supply, both elasticities, or neither? c) What effect would this increase in the minimum wage have on unemployment? Does the change in unemployment depend on the elasticity of demand, the elasticity of supply, both elasticities, or neither? d) If the demand of unskilled labor were inelastic, would the proposed increase in the minimum wage raise or lower total wage payments to unskilled workers? Would your answer changeif the demand for unskilled labor were elastic?
You also pay an interest payment of $30 and a tax bill of $180. In addition, you borrow $75. What is your cash balance at the end of the quarter?
S corps and partnerships are both pass through entities, but the pass through rules are NOT identical. What are the differences in terms of limitations due to basis?
Prepare an adjusted trial balance and Prepare an income statement, a statement of owner's equity, and a balance sheet.
Use the appropriate information from the data provided below to determine operating income for the year ended December 31, 2007.
There is no doubt that Swift is guilty and the settlement is reasonably estimable at $10 billion payable evenly over 10 years starting next year. Explain briefly how Swift would address this in its current year financial statements.
What action could San Fernando take on its export pricing? What probable U.S. government action may result from your decision in 1?
Generate a report showing the company's activity variances for April.
Make the journal entry necessary on Plitt's books to record the factoring of the accounts.
then 200 for $7 and finally 150 units for $8. at the end of the month 180 remained. Calculate the amount of phantom profit that would result if the companyused FIFO rather than LIFO periodic method
some will argue that KMPG inappropriately subordinated its judgements to Xerox preferences. How could accounting firms ensure that auditors do not subordinate their judgements to client prefernces on other audit engagements?
Should Main Line's lost profits be adjusted downward to include an estimate of domestic revenues for the "Without Basinger" film? Would it have been valid to use the $1.7 million advance against domestic revenues as the estimate? Explain.
Show Which alternative would most likely enhance this company's financial performance, overall
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