Consider the market for labor depicted by the demand and supply curves that follow. Use the calculator to help you answer the following questions. You will not be graded on any changes you make to the calculator.

uppose a senator considers introducing a bill to legislate a minimum hourly wage of $12.50.

Complete the following table with the quantity of labor supplied and demanded if the wage is set at $12.50. Then indicate whether this wage will result in a shortage or a surplus.

Hint: Be sure to pay attention to the units used on the graph and in the table. For example, type in 100,000 for 100 thousand workers.

Wage Labor Demanded Labor Supplied Shortage or Surplus?
(Thousands of workers) (Thousands of workers)
$12.50
Which of the following statements are true? Check all that apply.

Binding minimum wages cause structural unemployment.

In this labor market, a minimum wage of $9.50 would be binding.

In the absence of price controls, a surplus puts downward pressure on wages until they fall to the equilibrium.

If the minimum wage is set at $12.50, the market will not reach equilibrium.

Abusiness cycle reflects in economic activity, particularly real gdp. the stages of a business cycle

Because gloria's immediate concern was the perceived gender discrimination, she would be more concerned about than intent, resultsresults, intentstatistics, trendsrace, gendergender, race

Swathmore clothing corporation grants its customers 30 days' credit. the company uses the allowance method for its uncollectible accounts receivable. during the year, a monthly bad debt accrual is made by multiplying 3% times the amount of credit sales for the month. at the fiscal year-end of december 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. at the end of 2012, accounts receivable were dollar 586.000 and the allowance account had a credit balance of dollar 50,000. accounts receivable activity for 2013 was as follows: the company's controller prepared the following aging summary of year-end accounts receivable: prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (if no entry is required for a particular event, select "no journal entry required" in the first account field.) prepare the necessary year-end adjusting entry for bad debt expense. (if no entry is required for an event, select "no journal entry required" in the first account field.) what is total bad debt expense for 2013? calculate the amount of accounts receivable that would appear in the 2013 balance sheet?