Use the Table Below to Answer the Following Questions

question 69

Multiple Choice

Use the table below to answer the following questions.
Table 6.2.1

-Table 6.2.1 gives the supply and demand schedules for teenage labour in Genoa City. Suppose a new fast food restaurant opens and increases the quantity demanded of teenage labour by 400 hours per week at each wage rate. If the teenage labour market is unregulated, there is an increase in teenage employment to

• A)1,000 hours per week and a wage of $5 per hour.
• B)1,000 hours per week and a wage of $7 per hour.
• C)800 hours per week and a wage of $6 per hour.
• D)600 hours per week and a wage of $7 per hour.
• E)400 hours per week and a wage of $7 per hour.

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Definitions:

FVTPL

Fair Value Through Profit or Loss; a classification under IFRS for financial assets that are held for trading or designated upon initial recognition to be measured at fair value with changes recognized in profit or loss.

Hedge Accounting

A method of accounting where entries for the ownership of a security and the opposing hedge are treated as one, to show a more accurate financial position.

Hedging Instrument

Any financial derivative or other contract used to offset the risk of changes in the value of an asset, liability, or future transaction.

Hedged Item

An asset, liability, firm commitment, or anticipated transaction identified by an entity to manage risks through hedging activities.