Recent orders
How can raising minimum wage help increase economic mobility
Taylor Cunningham
EH102-01
Annotated Bibliography
8 October 2019
How can raising minimum wage help increase economic mobility?
Annotated Bibliography
Boehner, John. “Should Congress Increase the Federal Minimum Wage and Index It to Inflation? (Cover Story).” Congressional Digest, vol. 92, no. 5, May 2013, p. 19. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=ulh&AN=87086284&login.asp&site=ehost-live&scope=site.
This article focuses on the fact that congress are trying to determine whether to increase the minimum wage for workers. The fact that if that is done, so many other things will go wrong in doing so. As Boehner said, “when you raise the price of employment, guess what happens? You get less of it” (19). Basically, he is saying that if the employees are getting paid more then eventually the amount of employees will eventually start to decrease. He also said, “The last time Congress increased the minimum wage, in 2007, the national unemployment rate stood at 4.4 percent and had averaged under 5 percent for the preceding three years” (19). This shows that the unemployment rate has started to increase from the decision that was made in 2007. This article can help me because it has information about what happened once before when congress decided to increase minimum wage.
Harkness, Peter A. “Rising Inequality, Stagnant Mobility.” Governing, vol. 27, no. 6, Mar. 2014, p. 18. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=brb&AN=95033692&login.asp&site=ehost-live&scope=site.
This article focuses on the fact that when Obama was in office, he decided to want the minimum wage rate to be increased. This was said in a state of the union address to congress and the United States. It is said in Harkness article, “since 1967, the inflation adjusted earnings of middle-class americans have risen a paltry 19 percent, while those in the top 5 percent have enjoyed a 67 percent gain, according to the U.S. Census Bureau” (1). Harkness also puts in his article that, “In all, 46.5 million Americans are living below the poverty level” (1). That number alone is very disturbing to read when it comes to Americans being poor. I can use this in my paper because it will help me indicate how inequality is really effecting the world today.
Irmen, Andreas, and Berthold U. Wigger. “National Minimum Wages, Capital Mobility, and Global Economic Growth.” Economics Letters, vol. 90, no. 2, Feb. 2006, pp. 285–289. EBSCOhost, doi: 10.1016/j.econlet.2005.08.011.
This article focuses on the fact that there is a two-country endogenous growth model with capital mobility and national minimum wages. It identifies conditions on the technology and national preferences that determine whether national minimum wages are a stimulus or an obstacle to economic growth. I can use this article in my paper because it helps me look at growth models that can help explain more.
Meer, Jonathan, et al. “The Wrong Tool for the Job.” City Journal, 14 Aug. 2019, https://www.city-journal.org/increasing-minimum-wage.
This article focuses on the rising of minimum wage in different countries. The fact that minimum wage has been risen already in some states is an improvement for some. In the article, Meer says, “Twenty-five states and the District of Columbia have raised their minimums since 2014” (Meer1). He also puts in his article that, “Congress is considering the Raise the Wage Act, which would phase in a nationwide increase to $15 an hour over the next few years” (Meer1). With that being risen that high, it raises concerns on what else may be effected by this. I can use this in my article by being able to see the effects that has already been done from the minimum wage being increased once before.
Schrager, Allison. “The Problem in the US Is Economic Mobility, Not the Minimum Wage.” Quartz, Quartz, 1 Aug. 2013, https://qz.com/110887/the-problem-in-the-us-is-economic-mobility-not-the-minimum-wage/
This article focuses on the fact that the problem may not be minimum wage, but it is economic mobility. The fact that there is an estimated amount a household needs to earn just to get by is concerning. Most of the U.S. is under that amount and are in poverty. In Schrager’s article, he asks, “Should people be paid their market value or an income that ensures a dignified lifestyle?” (1). Schrager also says in his article that, “living wage measures are completely arbitrary and that members of the upper middle class, both conservatives and liberals, aren’t well qualified to determine what’s an acceptable lifestyle for other people” (1). To further deliberate, other people cannot determine how a person can live just by making a certain amount of money. I can use this in my paper because it can help me go into further detail about jobs that are going on strikes due to their pay from their jobs.
Zimmerman, Seth. “LABOR MARKET INSTITUTIONS and Economic Mobility.” Urban.org, 2019, www.urban.org/sites/default/files/publication/31191/1001163-labor-market-institutions-and-economic-mobility.pdf.
This article focuses on the fact that there is little known about the relationship between minimum wage and economic mobility. There are several institutions used in this article that work and try to find solutions for this problem. Zimmerman says, “Though many studies of unions and minimum wage laws include tangential discussions of mobility, direct evidence is difficult to come by” (2). While reading more into this article, he also says, “Studies relating changes in minimum wage and unionization levels to income and wage inequality are much more common” (2). In this periodical Zimmerman is giving using all kinds of information. I can use this in my paper because it gives relationships and shows how it is not so easy to just compare the two, minimum wage and economic mobility.
Health Care Management
Health Care Management
Student’s Name
Date
Subject 1: How Managers Can Assure Privacy and Security of Patient Information
In regard to staff members, Hospital Managers can assure privacy and security of patient information through persistently communicating through their actions while complying, implementing and enforcing security and privacy procedures and policies. In addition they should constantly remind members of their staff the significance of securing patients information to both medical practice and patients. This can be done through implementing security and privacy requirements as well as HIPAA and other state laws. Apart from that, members of staff should be given formal training about breach notification (Haak, 2006).
In regard .to outsiders walking around the Managers office or facility, Hospital Managers can assure privacy and security of patient information through the promotion of a culture that protects patients’ privacy. This is where a general atmosphere that is protective of patients’ privacy is created in the Manager’s office and the entire hospital setting (Haak, 2006).
Hospital Managers can assure privacy and security of patient information from threats posed by computer hackers through encrypting it. This can be done in line with HIPAA and other state law regulations to avoid falling prey to security breaches. Apart from that, any patients’ information that is likely to be transferred over the internet should be encrypted. This enables the hospital’s security system to detect and respond to multifaceted cyber attacks (Ohno, 2007).
Subject 2: Healthcare Budget
The most surprising part of this article is that while in 2011 the Veterans Health Administration (VHA) allocated $2.4 billion to Overseas Contingency Operations (OCO) veterans’ health some of them were not aware. As much as this represented a 24% increase from 2009 of the over 1.2 million eligible OCO veterans’ only 52% had made use of this facility in 2011. Surprisingly, this was done only once in 2011. Even though the number of veterans who have been making use of this service has increased over the years it is not all of them that seek medical care. For instance by 2010 over 600,000 veterans had used this service yet 200, 000 of this group did not do so for medical reasons. There is a need for a thorough audit to account for these funds since it seems the targeted beneficiaries are not using it as originally envisaged (Jadick, 2007).
If I were the Manager in charge of the VHA I would have made a flexible budget to ensure that every penny is accounted for since the situation on the ground indicates that most of the allocated funds are not accounted for. This is because statistics show that while the VHA allocated $2.4 billion in 2011 for OCO veterans to use in funding their medical bills and other health issues, only 52% happened to use it. Apart from that, while it is reported that only 625, 000 veterans used this service that was supposed to cater for 1.3 million of them in 2010. Yet still, it is only 400,000 of this cohort who sought medical care. If a thorough audit is made VHA fund will not be embezzled and all OCO veterans will benefit from this funding (Christensen, 2009).
Subject 3: Environmental Disparities
Amongst the dangers that individuals are faced with in their attempt to live in a safe environment is the exposure to various environmental hazards. This includes exposure to flowing sewages, dirty water, environmental contaminants, safety issues, disease carrying pests and polluted air (Zartarian, 2010).
In an effort to curb these dangers the following is being done: the United States Environmental Protection Agency (EPA) is already carrying out research to support community founded collective risk assessments. It is also creating tools to communicate the findings of this research to the public. The Community Focused Exposure and Risk Screening Tool (C-FERST) is amongst those tools being developed by EPA. It is being developed as a community assessment, mapping and information access tool to facilitate communities’ decision making processes. EPA scientists are already working together with various federal agencies to devise and analyze C-FERST. Their research responds to the National Academy of Sciences recommendations as well as requisites from communities and APA regional offices (Zartarian, 2010).
The people who are exposed to environmental contaminants, safety issues and disease carrying pests are members of various communities as well as individuals in the entire public. Therefore C-FERST is projected to sustain communities that seek to point out and prioritize fundamental environmental stressors. This tool will be populated and refined over time with extra information to the community on their environmental issues. C-FERST’s future versions are likely to integrate extra research and features including research on non chemical stressors, continuous human exposure to science, cumulative risk guidance, incorporation to ecological research, capacity for full cumulative risk ranking, as well as health impact evaluations of the communities (National Research Council, 2009).
Subject 4: Organ Transplant
In order to obtain enough organs to be transplanted into needy patients, laws should be passed which allow organs to be obtained from persons who have died without the prior permission of the patient or any permission of the family. This stems from the fact that the procedure involved in obtaining written permission from family members or their dead relatives could act as a barrier to helping needy patients. This is because they may be asked to part with some money. Apart from that it is not feasible to get written permission from a dead person which could further complicate the case. France is amongst 15 countries that are already doing well in saving the lives of their needy citizens. This is because in these countries a dead person is presumed to be a donor except if he prohibits in writing the donation of his body organs to a national agency (Journey Man Pictures, 2007).
The fears of bad publicity and law suits have made surgeons not to accept donations from dead patients without a written approval of the process. This is in spite of the dead person’s relatives consenting to the donation process. The issue of signing donor cards should be abolished to save needy patients. This is because young people whose organs are believed to be healthy tend not to think about death. In the event of their deaths their organs are not used because of lack of their prior authentication. Because of such rigid laws more donated organs are coming from live people than from cadavers (Associate Press, 2008).
In addition to this several ethical concerns have made patients to fear getting heart transplants and even potential donors have since given it a second thought. For instance some surgeons do it for the sake of publicity while ignoring important issues such as how the body would react to the transplant. For instance most of the early heart transplants were unsuccessful because the patients’ immune systems rejected the organs. Apart from that, surgeons started stopping people from living due to brain death so as to transplant their hearts into other people. Most Americans have become reluctant in signing organ transplant cards for the fear of being declared dead when they are still breathing (Associate Press, 2008).
References
Associate Press (October, 8, 2008).German doing well after double arm transplant
Christensen Eric, (2009)., Economic Impact on Caregivers of the Seriously Wounded, Ill, and Injured Alexandria, Va.: CNA Corporation, 23, 3-7.
Haak A., (2006). Data security and protection in cross-institutional electronic patient records. International Journal of Medical Informatics 70, 117-/13.
Jadick Richard, (2007). On Call in Hell: A Doctor’s Iraq War Story New York: NAL Caliber.12, 34-45.
Journey Man Pictures (November, 1, 2007) Kidney sales in India: Driven by poverty and unscrupulous doctors. Web.
Menezes A.J., (2009). Vanstone, Handbook of applied cryptography, CRC Press,23, 678-789.
National Research Council (2009). Science and Decisions: Advancing Risk Assessment , Washington, DC: National Academy of Sciences Press, Chapter 7 and elsewhere.
Ohno Lucila, (2007). Protecting patient privacy by quantifiable control of disclosures in disseminated databases. International Journal of Medical Informatics 73, 599-606.
Zartarian V. and Schultz B. (2010). The EPA human exposure research program for assessing cumulative risks in communities Journal of Exposure Science and Environmental Epidemiology. 20, 351-358.
Assessment Tasks and Instructions
Assessment Tasks and Instructions
Student Name Yebeen
Student Number Cti2017190
Course and Code Unit(s) of Competency and Code(s) SITXFIN003 Manage finances within a budget
Stream/Cluster Trainer/Assessor Assessment for this Unit of Competency/Cluster Details
Assessment 1 Short Answers
Assessment 2 Project
Assessment 3 Assessment conducted in this instance: Assessment 1 FORMCHECKBOX 2 FORMCHECKBOX 3 FORMCHECKBOX
Reasonable Adjustment
Has reasonable adjustment been applied to this assessment?
No FORMCHECKBOX No further information required
Yes FORMCHECKBOX Complete 2.
Provide details for the requirements and provisions for adjustment of assessment:
Student to complete
FORMCHECKBOX My assessor has discussed the adjustments with me
FORMCHECKBOX I agree to the adjustments applied to this assessment
Signature Date 2nd Assessor to complete
FORMCHECKBOX I agree the adjustments applied to this assessment are reasonable
Name Signature Date Assessment Guidelines
What will be assessed
The purpose of this assessment is to assess your underpinning knowledge to complete the tasks outlined in the elements and performance criteria for this unit of competency and relating to the following aspects:
types of financial records:
bank deposit documentation
bank statements
banking summaries
business activity statements
cheque books
credit card transaction statements
invoices
journal entries
labour and wages reports
merchant statements
merchant summaries
transaction reports
types of budgets:
cash budgets
cash flow budgets
departmental budgets
event budgets
project budgets
purchasing budgets
sales budgets
wage budgets
whole of organisation budgets
factors for consideration in the preparation of financial and statistical reports:
cash flow
commercial account activity
commission earnings
covers and financial return
daily, weekly and monthly transactions
expenditure
income
occupancy rates and financial return
performance of department, project and/or products and services
sales performance
sales returns
staff costs
stock levels
variance in income and/or expenditure
wastage
yield
use, contents of and formats for:
budgets
financial reports
statistical reports
budget terminology
specific industry sector and organisation:
use of budgets to control costs and enhance profitability
importance of budget control
techniques for maximising budget performance
financial reporting procedures and cycles
features and functions of accounting software programs used to manage budgets.
Place/Location where assessment will be conducted
RTO to complete
Resource Requirements
Pen, Paper or computer
Instructions for assessment including WHS requirements
You are required to address all questions to achieve competence. Your trainer will provide you with instructions for time frames and dates to complete this assessment.
Once completed, carefully read the responses you have provided and check for completeness. Your trainer will provide you with feedback and the result you have achieved.
Statement of Authenticity
FORMCHECKBOX I acknowledge that I understand the requirements to complete the assessment tasks
FORMCHECKBOX The assessment process including the provisions for re-submitting and academic appeals were explained to me and I understand these processes
FORMCHECKBOX I understand the consequences of plagiarism and confirm that this is my own work and I have acknowledged or referenced all sources of information I have used for the purpose of this assessment
Student Signature: Date: / /201
This assessment: First Attempt FORMCHECKBOX 2nd Attempt FORMCHECKBOX Extension FORMCHECKBOX – Date: FORMTEXT / FORMTEXT / FORMTEXT
RESULT OF ASSESSMENT Satisfactory FORMCHECKBOX Not Yet Satisfactory FORMCHECKBOX
Feedback to Student:
Assessor(s) Signature(s): Date: FORMTEXT / FORMTEXT / FORMTEXT
Student Signature Date: FORMTEXT / FORMTEXT / FORMTEXT
Assessment 1
Your Task:
Answer the following questions below. All questions must be answered.
Question 1
List 8 examples for financial records
1. General account books
2. Cash book records
3. Banking records
4. Creditors’ records
5. Debtors’ records
6. Details of any contracts
7. Tax invoices and other relevant tax records
8. Stock records
Question 2
List 4 different types of budgets.
1.master budget
2.wage budgets
3.cashflow budgets
4.project budgets
Question 3
What is the purpose of preparing a draft budget?
The purpose of a draft budget is to give you a visual description of the expected financial results of your business activities.
Question 4
What should you do with the feedback from the draft budget?
Once the feedback from the draft budget has been received, whether in a meeting or from the individuals, you must analyse the feedback. It is very rare for a draft budget to simply become the final budget, so some changes are to be expected. When looking at the feedback, it is important to consult others if you are unsure as to the relevance of the change.
Question 5
List 2 people the final budget might need to be distributed to.
1.Owners
2.Senior management
Question 6
Why is it important for each department head to understand their part of the budget?
they should be informed of any changes made from the draft budget and be provided with an explanation for the change or why something that was requested to be changed wasn’t
Question 7
Why should all staff have some knowledge of the budget for their area?
The management team should be informed of the budget outcomes and its impact on their operation.
Question 8
Once the final budget has been approved, how often should it be monitored?
Managers are required to provide a report on their department for the month.
Question 9
As well as receiving the final budget the management team should be advised of their reporting duties. What
should their report contain?
Accounting regulation ,tax laws and financial statement
Question 10
Name 2 financial reports you might generate from your accounting system to check your budget against
actual income or expenditure.
1. sales reports
2.expenditure reports
Question 11
Every revenue and expense item on the Profit and Loss Statement should be compared to what?
Compared to the budgeted figure.
Question 12
When revenue variances occur, why should you talk to the staff to help identify, and find options to
address the issue?
Every situation will require a different approach for the business to rectify it
Question 13
List 2 factors that can cause variances in staff budgets.
1.wages
2.wastage
Question 14
List 3 colleagues you may advise if you noticed that there were deviations between your budget and your
targets.
1. Manager
2.operational staff
3.Administration to financial staff
Question 15
List 2 ways you might research new approaches to managing your budget.
1.any changes that are made to the budget should be recorded so that future budgets can be made based on this information, rather than using the outdated information from the start of the year
2.a new department head may have different ideas and ways of the running the department and may need more budget in some areas and less budget in others
Question 16
List 3 things you need to include in your budget report, to give the decision maker enough information to do a
clear cost versus benefit analysis of the budget request.
1. expense
2.revenue
3.cost
Question 17
If you are cutting expenditure, why must you be careful that the cuts do not cause the level of service and
product to fall?
the same amount of maintenance work will need to be done more efficiently,
some maintenance work will have to be deferred, or
some maintenance work will not be able to be done at all.
Question 18
Name an accounting program you can use to help manage budgets.
Xero, MYOB, Quicken and turbo tax
