Due to Population Change, Goose Creek School District Has Decided $\begin{array}{lr}\text { United Methodist Church } & \$ 1,700,000 \\\text { Planet Motors } & 1,600,000\end{array}$

question 202

Essay

Due to population change, Goose Creek School District has decided to close one of its high schools. Since it has no further need of the property, the school is listed for sale. The two bids it receives are as follows: $\begin{array}{lr}\text { United Methodist Church } & \$ 1,700,000 \\\text { Planet Motors } & 1,600,000\end{array}$ The United Methodist Church would use the property to establish a sectarian middle school. Planet, a well-known car dealership, would revamp the property and operate it as a branch location.
If you were a member of the School District board, what factors would you consider in evaluating the two bids?

Recognize the differences between nominal wages, real wages, and how they affect the labor market.

Explain the concept of human capital and its importance for wage determination and economic prosperity.

Understand the arguments for and against the implementation of minimum wage laws and their implications on the labor market and economy.

Comprehend the concept of unions, their types (exclusive and inclusive), and their impact on wages and employment.

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Definitions:

Witness

An individual who observes an event take place, often providing their account or testimony regarding what occurred.

Context Cues

Environmental or situational indicators that aid in the recognition, recall, or understanding of information or behaviors.

Overwhelmed

A state of being overcome by intense feelings, thoughts, or experiences that are too difficult to manage.

Elementary School

A primary education institution where children receive the first stage of compulsory education known as elementary or primary education.