that have been incurred in the past. Ans: B 2. You have invested about $100‚000 in a new (hopefully) trendy restaurant in an urban location. These costs have gone to purchase the restaurant‚ prepay insurance for the following year and purchase supplies for the restaurant. It will cost you an additional $10‚000 per year to hire each waiter and waitress. (They earn tips which they get to keep.) Which of the following statements is most accurate? a) The $100‚000 sum represents sunk costs‚ whereas
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Assignment #1 Weak Labor Report Fans Fears - Ben Casselman (7/7/12) 1. How many jobs were created in the United States in June? Which sector showed the biggest job gains? Which sector showed the biggest job losses? 80‚000 jobs were created in the US in June‚ and the manufacturing sector showed the biggest job gain‚ with gains of 11‚000 jobs. Retail showed the biggest job loss‚ with losses of 5‚400 jobs. 2. What are 3 reasons behind the lower number of jobs created in June? In other words
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history of the worker at that company‚ the incident which arose‚ why it was a clear violation of employer policy‚ and what would be the likely result of arbitration of this issue if the employee acknowledged his wrong doing but asked to keep his job. Explain the reasoning for our considered outcome. When an employer has to discipline a unionized employee there are four steps to the grievance (infraction) procedure. In the first step the employee is given the grievance in an informal oral manner so a
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Natalia Promyshlennikova Professor Ryan 1 March‚ 2015 The Beginning of a Very Long Fight In the years after the American Civil War‚ the rapid process of industrialization saw an extreme need for a labor force that led to a development of the largest social group at the time - the working class. The workforce was comprised of people of different races‚ genders‚ and ages but only white male skilled workers could rely on a salary that would support their families. Those people that were underpaid
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Child Labor Laws Child labor laws were made in regards to child labor because minors were treated harshly during child labor. Child labor laws in America have changed throughout the years. Now if child labor laws are disregarded a parent or employer will be fined. Many parents disregarded child labor laws to support their families. Child labor laws were a turning point in history because children were working in dangerous environments‚ and new standards were made to prevent child labor. Children
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improvement in the productive powers of labor‚ and the greater part of the skill dexterity‚ and judgment with which it is anywhere directed‚ or applied‚ seem to have been the effects of the division of labor” (Smith‚ Book1‚ Chapter 1‚ Of the Division of Labor). The division of labor allows a market‚ state‚ countries and societies to undergo economic improvement. Adam Smith is correct to say that The Division of Labor is how countries become rich‚ but the division of labor has some of its own problems too
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economics is how tax rates relate to economic growth. Advocates of tax cuts claim that a reduction in the tax rate will lead to increased economic growth and prosperity. Others claim that if we reduce taxes‚ almost all of the benefits will go to the rich‚ as those are the ones who pay the most taxes. Specially‚ we truly care about how tax rates can lead to the changes in labor supply and aggregate demand (AD). What does economic theory suggest about the relationship between labor supply‚ AD and taxation
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Discuss the negative and positive outcomes of introducing indentured labor between the years 1838-1921. Indentured labor can be defined as contracted workers or laborers from other countries for a specific period of time. Some are seasonal workers‚ whereas others would be on longer-term contracts‚ of a year or more. In 1838‚ indentured labor was introduced to the Caribbean as result of the lack labor in the plantation fields. Most indentured laborers brought to the Caribbean were from India‚ Asia
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nearest dollar. $ The dividend divided by the interest rate explanation: The present value of the perpetual stream of cash flows. This is given by PVPerpetuity = CF / i = $215 / 0.08 = $2‚688. 3. Jaynet spends $20‚000 per year on painting supplies and storage space. She recently received two job offers from a famous marketing firm – one offer was for $105‚000 per year‚ and the other was for $85‚000. However‚ she turned both jobs down to continue a painting career. If Jaynet sells 35 paintings
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Labor rate variance is the difference between the actual labor rate and the applied overhead rate (standard rate multiplied by the number of actual hours worked). Consider this and respond to the following: • "Our workers are all under labor contracts. Therefore‚ our labor rate variance is bound to be zero." Do you agree or disagree that the labor rate variance will be zero if all workers are under labor contracts? Explain giving reasons. The concept of labor rate variance and its application
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