The federal government and all states have a minimum wage. As shown in the documentary "Two American Families," many American workers struggle to find a job that pays them much above minimum wage and that allows them to live a comfortable life. This is in stark contrast with 20-30 years ago, when these same workers were employed in good paying jobs that allowed them a comfortable lifestyle, often with only one salary rather than the dual salaries that most families now require.

A job that pays minimum wage does not provide a living wage. Should employers be required to pay a living wage rather than a minimum wage? Why or why not? What do you think would be most helpful to alleviate the problem of poverty and the working poor, whether at a governmental (federal, state or local), community or employer level?

American Food Services, Inc., leased a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2018. The lease agreement for the $4.3 million (fair value and present value of the lease payments) machine specified four equal payments at the end of each year. The useful life of the machine was expected to be five years with no residual value. Barton and Barton’s implicit interest rate was 10%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Required:

1. Prepare the journal entry for American Food Services at the beginning of the lease on January 1, 2018.

2. Prepare an amortization schedule for the four-year term of the lease.

3. & 4. Prepare the appropriate entries related to the lease on December 31, 2018 and 2020.

American Food Services, Inc., leased a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2018. The lease agreement for the $5.1 million (fair value and present value of the lease payments) machine specified four equal payments at the end of each year. The useful life of the machine was expected to be five years with no residual value. Barton and Barton’s implicit interest rate was 11%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare the journal entry for American Food Services at the beginning of the lease on January 1, 2018. 2. Prepare an amortization schedule for the four-year term of the lease. 3. & 4. Prepare the appropriate entries related to the lease on December 31, 2018 and 2020.

Congress and the President just passed a bill that will inject an EXTRA $2 TRILLION, or $2,000 BILLION (more or less) in spending into the U.S. economy. To TRY to put this into context, our federal government typically spends about $4,400 billion IN A NORMAL YEAR. 1. Do you think this is a good idea? Or a bad idea? Why? 2. If the American people ‘still need help’ 3 or 6 months from now, should our government spend EVEN MORE MONEY at that time to help them? Why or why not? What is your definition of ‘still need help’? 10% unemployment? Less? More? Why? 3. Given this incredible moment in history, as a nation, should we PERMANENTLY CHANGE programs --- including direct payments to people ---so that more money is injected into American households? No? Yes? If so, how would you pay for it?

Managing compensation costs, headcount, and participation/communication issues

Cisco systems, Hewlett-Packard, American Airlines, and General Motors are examples of companies that have cut employment or cut wages and/or benefits to reduce labor costs in hope of becoming more competitive and more profitable. Indeed, American and GM went through bankruptcy in part to gain control over labor costs. In contrast, some companies- Southwest Airlines, Nucor, and Lincoln Electric- have a no-layoff practice and do not appear to have cut wages or benefits even in years when sales have declined significantly (They have also not gone through bankruptcy).

If you were in charge of designing a compensation system for a company that is fairly new but is now reaching a stage and size where it needs a formal compensation system, how would you design the compensation system to have labor cost flexibility?

American Food Services, Inc. leased a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2021. The lease agreement for the $4 million (fair value and present value of the lease payments) machine specified four equal payments at the end of each year. The useful life of the machine was expected to be four years with no residual value. Barton and Barton’s implicit interest rate was 10%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required:

1. Prepare the journal entry for American Food Services at the beginning of the lease on January 1, 2021.

2. Prepare an amortization schedule for the four-year term of the lease.

3. & 4. Prepare the appropriate entries related to the lease on December 31, 2021 and 2023.

• What is a time when you or someone you know of experienced a conflict between duty to self and loyalty to the community? What would logical reasoning say should be done in that case? Why that? What would an Ethical Egoist say to do? Why would they say to do that? Note what you feel is the best course of action.
• What is a time when you or someone you know experienced a clash between professional duties and familial duties? Reference a professional code such as that of the American Nurses Association or American Bar Association in explaining the clash. What moral values should have been used in that case? Why those values? What would social contract ethics have said to have done? Why would social contract ethics say that? Note what you feel is the best course of action.

Topic: Productivity cost and contingent market valuation.

Suppose the faith-based organization has three leaders:

- a 52 year old, African American male physician in private practice who also holds a PhD;

- a 29 year old Native American female lawyer also holds and MBA and who works for a large firm that specializes in medical malpractice claims; and

- a 38 year old, Caucasian male with an MA in art history who works as cook at a local restaurant. Suppose that each of them uses their free time to be a group leader at the faith- based organization. Each person spends three hours a week as a group leader.

Question: ​​​How would the Panel on Cost-Effectiveness in Health and Medicine put a value on each person’s time? Note that this is the inputs taken into consideration rather than actual amounts.

Researchers initiated a​ long-term study of the population of American black bears. One aspect of the study was to develop a model that could be used to predict a​ bear's weight​ (since it is not practical to weigh bears in the​ field). One variable thought to be related to weight is the length of the bear. The accompanying data represent the lengths and weights of 12 American black bears. Complete parts​ (a) through​ (d) below.

​(c) Determine the linear correlation coefficient between weight and length.

The linear correlation coefficient between weight and length is

r equals=

​(d) Does a linear relation exist between the weight of the bear and its​ length?

Length cm weight kg

1.Mental health. The National Survey on Drug Use and Health reports that 18.1% of all adults in the United States had a mental illness in 2014. Among adults with a substance use disorder, 39.1% had a mental illness. By comparison, only 16.2% of adults without a substance use disorder had a mental illness. The report also states that 3.3% of American adults had both a mental illness and a substance use disorder. Use the notation MI and SUD for mental illness and substance abuse disorder, respectively.

1. Express the four percents cited here as probabilities for a randomly selected American adult. Use proper probability notation.

2. Obtain the probability P(SUD|MI). Write a sentence reporting this probability in context.

3. Explain in context why P(SUD|MI) and P(MI|SUD) are not the same thing.