When computers are used to replace workers on a factory production line, the wage gap between...
Homework Answers
Ans) the correct option is B) is likely to increase
Since skilled workers are required to operate computers so the demand for skilled workers will increase. This will increase the wage gap between skilled and unskilled workers
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When computers are used to replace workers on a factory production
line, the wage gap between...
Ability bias can arise when estimating compensating wage differentials associated with various job characteristics. What is...
Ability bias can arise when estimating compensating wage differentials associated with various job characteristics. What is ability bias in this context? a. Low-skilled workers are likely to have low wages but good job amenities. O Ь.High-skilled workers are likely to have high wages but poor job amenities O c. High-skilled workers are likely to have lower wages than unskilled workers but to have better job amenities d.High-skilled workers are likely to have higher wages than unskilled workers, but they are...
Sales commissions Lubricants used in factory equipment Insurance costs for factory Wages paid to maintenance workers...
Sales commissions Lubricants used in factory equipment Insurance costs for factory Wages paid to maintenance workers Fabric used to upholster furniture Freight - in (on raw materials) Costs of delivery to customers Wages paid to assembly - line workers Lumber used to build product Utilities in factory Utilities in sales office 23,200 3.100 21,300 115,700 10.500 3,600 9,000 115,800 82,700 54.500 26,600 Product costs for Custom Creations Furniture Company totaled O A. $489,500. O B. $372.000 O C. $473,400. OD....
Below is a table showing the production numbers for a chair factory (where the production numbers...
Below is a table showing the production numbers for a chair factory (where the production numbers are based on chairs being produced per day). Workers Total Product (TP) Average Product (AP) Marginal Product (MP) Value of the Marginal Product (VMP) 0 0 - - - 1 20 2 60 3 40 4 180 5 46 6 270 7 300 8 40 9 10 10 5 a) Fill in the missing numbers for the TP, AP and MP columns (round to...
60. When several hurricanes hit Florida in 2004, a number of local governments imposed price controls...
60. When several hurricanes hit Florida in 2004, a number of local governments imposed price controls that prevented sellers from raising their prices for badly needed products like plywood and generators. In the areas where the controls were imposed, they resulted in an expanded availability of these badily needed products b a reduced availability of these badly needed products Jan increase in the speed with which people recovered from the hurricanes more efficient allocation of these poods for which price...
2. Creekwood Lawn and Landscape is a small business that employs 20 minimum wage workers and...
2. Creekwood Lawn and Landscape is a small business that employs 20 minimum wage workers and 10 units of capital (in the form of mowers, spreaders, aerators, etc.) to service 10 lawns. Creekwood is currently minimizing costs at $400 per hour, as depicted in the following diagram: Capital (K) 0-10 C= $400 40 Labor (L) a. What is the minimum wage where Creekwood is located? The rental rate? b. Suppose that the city government doubles the minimum wage in a...
11) If a company pays their factory workers an hourly wage less than expected, which variance...
11) If a company pays their factory workers an hourly wage less than expected, which variance would this affect? A) The labor rate variance B) The materials price variance C) The labor efficiency variance D) The materials quantity variance 12) If a company shows a materials price variance, the manager that is usually responsible would be the A) Advertising Manager B) Purchasing Manager C) Sales Manager D) Labor Manager 13) Jackson Corporation uses a labor force that is usually paid...
Tim Hortons paid its line workers $10 per hour lest yeer when the Consumer Price Index...
Tim Hortons paid its line workers $10 per hour lest yeer when the Consumer Price Index wes 100 Suppose over the past year, deflation occurred and the aggregate price level fe Tim Hortons paid its line workers $10 per hour last year when the to 80 instructions: Round your answers to two decimal places this year in order to keep the real wage fixed ot $10 a. Tim Hortons must pay its workers s b. Tim Hortons must pay its...
1. If a company’s production rate (supply) exceeds the demand by customers, the company would most...
1. If a company’s production rate (supply) exceeds the demand by customers, the company would most likely from the following: Hire more production employees Purchase more production machinery Increase the price of the product Increase promotion 2. If a company’s production rate (supply) exceeds the demand by customers, the company would most likely from the following: Decrease sales promotion Add new features to the product Decrease distribution Hire temporary production workers
Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations...
Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations are as follows. The company intends to classify these costs and expenses into the following categories: (a) direct materials, (b) direct labor, (c) manufacturing overhead, and (d) period costs. For each item, indicate the cost category to which it belongs. Item Category Property taxes on the factory building. rini Production superintendents’ salaries. mi Memory boards and chips used in assembling computers. Depreciation on the...
1-Home produces 2 goods X and Y . Home country has two factors of production, Labor...
1-Home produces 2 goods X and Y . Home country has two factors of production, Labor and Capital. All consumers at Home have preferences over two goods that can be represented by the utility function U(X,) =XY . The factor requirements per unit of output of the two goods are also fixed and they are shown in the following table: Good X Good Y Labour 1/3 2/3 Capital 2/3 1/3 Home country has 360 units of Labour and 600 units...
Ability bias can arise when estimating compensating wage differentials associated with various job characteristics. What is ability bias in this context? a. Low-skilled workers are likely to have low wages but good job amenities. O Ь.High-skilled workers are likely to have high wages but poor job amenities O c. High-skilled workers are likely to have lower wages than unskilled workers but to have better job amenities d.High-skilled workers are likely to have higher wages than unskilled workers, but they are...
Sales commissions Lubricants used in factory equipment Insurance costs for factory Wages paid to maintenance workers Fabric used to upholster furniture Freight - in (on raw materials) Costs of delivery to customers Wages paid to assembly - line workers Lumber used to build product Utilities in factory Utilities in sales office 23,200 3.100 21,300 115,700 10.500 3,600 9,000 115,800 82,700 54.500 26,600 Product costs for Custom Creations Furniture Company totaled O A. $489,500. O B. $372.000 O C. $473,400. OD....
60. When several hurricanes hit Florida in 2004, a number of local governments imposed price controls that prevented sellers from raising their prices for badly needed products like plywood and generators. In the areas where the controls were imposed, they resulted in an expanded availability of these badily needed products b a reduced availability of these badly needed products Jan increase in the speed with which people recovered from the hurricanes more efficient allocation of these poods for which price...
2. Creekwood Lawn and Landscape is a small business that employs 20 minimum wage workers and 10 units of capital (in the form of mowers, spreaders, aerators, etc.) to service 10 lawns. Creekwood is currently minimizing costs at $400 per hour, as depicted in the following diagram: Capital (K) 0-10 C= $400 40 Labor (L) a. What is the minimum wage where Creekwood is located? The rental rate? b. Suppose that the city government doubles the minimum wage in a...
11) If a company pays their factory workers an hourly wage less than expected, which variance would this affect? A) The labor rate variance B) The materials price variance C) The labor efficiency variance D) The materials quantity variance 12) If a company shows a materials price variance, the manager that is usually responsible would be the A) Advertising Manager B) Purchasing Manager C) Sales Manager D) Labor Manager 13) Jackson Corporation uses a labor force that is usually paid...
Tim Hortons paid its line workers $10 per hour lest yeer when the Consumer Price Index wes 100 Suppose over the past year, deflation occurred and the aggregate price level fe Tim Hortons paid its line workers $10 per hour last year when the to 80 instructions: Round your answers to two decimal places this year in order to keep the real wage fixed ot $10 a. Tim Hortons must pay its workers s b. Tim Hortons must pay its...
Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations are as follows. The company intends to classify these costs and expenses into the following categories: (a) direct materials, (b) direct labor, (c) manufacturing overhead, and (d) period costs. For each item, indicate the cost category to which it belongs. Item Category Property taxes on the factory building. rini Production superintendents’ salaries. mi Memory boards and chips used in assembling computers. Depreciation on the...
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