federal minimum wage law

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ECON 111 Handout for class

1. Consider the federal minimum wage law.
(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 (this is the wage times the number of workers).

  1. (b) If the demand for unskilled labor were inelastic, would a proposed increase in the minimum wage raise or lower total wage payments to unskilled workers?
  2. (c) How would your answer change if the demand for unskilled labor were elastic?
  3. This year, weather events severely reduced the lemon crop in California.

    (a) Explain what happens to consumer surplus in the market for lemons. Illustrate your answer with a diagram. (b) Explain what happens to consumer surplus in the market for lemonade. Use a diagram. Attached is the worksheet to fill in the answers

 

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Describe how an enzyme binds to its substrate Describe a simple enzyme v Conjugated enzyme How do co

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Describe how an enzyme binds to its substrate Describe a simple enzyme v Conjugated enzyme How do competitive inhibitors operate in comparison to non competitive inheritors? How do reversible inhibitors operate in comparison to irreversible inhibitors and do biological systems usually utilize reversible or irreversible inhibitors? Why?

 

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55470

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The financial community in the United States has become increasingly concerned with the quality of reported company earnings. Required: Define the term earnings quality.

 

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Taxation 19848379

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Please use the following fact pattern to complete a C-Corporation Tax Return for the 2018 tax year using the ProConnect Tax software. Please give us Depreciation Schedule for the following.

Assets & Depreciation

For purposes of determining any book depreciation, assume BB takes a full year of depreciation in the first and last year on a straight line basis with no salvage value and uses the same class life for book and tax.

Assets Place into Service in 2016: BB purchased furnishings and other equipment in 2016 for $571,755 that were all 7 year property and the half-year convention applied. BB elected not to take bonus depreciation or 179 deductions on those assets, because its taxable income was negligible in that year. BBs total combined MACRS depreciation from this equipment in 2016 and 2017 was $221,726 and its book depreciation was $163,359.

Assets Placed into Service in 2018: BB anticipates increasing its revenues substantially in future years, particularly 5 years from now when a current distribution agreement for its training materials expires. Consequently, BB does not want to take bonus depreciation on any newly acquired assets with class lives longer than 5 years, but bonus depreciation may be taken on any assets with class lives of 5 years or less that qualify.

BB purchased and placed into service the following business assets in 2018. BB purchased an inventory management system that consists of computer hardware costing $500,000 (5 year class life) and an order processing machine that cost $2,800,000 (7 year class life for book and tax). These assets were placed into service on March 1st.

Trade-In of Vehicle: BB also traded in its old delivery truck for a new delivery truck (both 5 year class life assets) on November 1st and immediately placed the new truck into service. The new truck cost $35,000, but BB received $10,000 of credit on the trade-in of the old vehicle and paid the remaining $25,000 in cash. The old vehicle was a 5 year asset that was acquired in the first quarter of 2017 and its original basis was $30,000. BB used the mid-quarter convention in 2017 and the total tax depreciation on the old vehicle from prior years was $18,300.

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