Suppose that in Workaholia the total population = 180 million, the number of unemployed = 5 million, and the labor force = S5 million. What is the employment to population ratio in Workaholia if 60 million people are ineligible to work? Select one: O a. 50.0% O b. 55.5% Oc. 61.2% O d. 41.7% O e. 68.4%
Q: Why would a profit-maximizing firm expand the use of each input until its marginal revenue product e...
A: Marginal revenue refers to the gain of additional revenue from each additional unit sold of a good. ...
Q: 1. Suppose that in order to engage in some legitimate business, entrepreneurs need permission from a...
A: Bribe function : N = 600 - 5(x + y ) When both the officials collude they jointly maximize the amou...
Q: The inverse demand for tea is given by P= 12 - 0.03Q, where P is the price per a gram of tea and Qis...
A: Equilibrium price is achieved when marginal cost is equal to marginal revenue for firms . This condi...
Q: Apart from being “control centers" and “focal points" of global capitalism, global cities also harbo...
A: global cities are confronting different issues: ● Environmental issues● Stressed properties● The iss...
Q: Sunglasses manufacturer Oakley, Inc. produces high-end and low-end versions of their performance sun...
A: The market refers to the place where the buyers or sellers come together to do the transaction in th...
Q: Which of the following will definitely occur when there is an increase in demand for and a decrease ...
A: We know that Equilibrium is attained in the market when the market forces of demand and supply meet ...
Q: Economic costs are the sum of costs and costs O sunk; implicit O explicit; implicit O explicit; sunk...
A: Implicit Cost is the imputed cost, which is also referred to as opportunity cost that is given up by...
Q: To affect the level of potential output, the monetary policy and fiscal policy must alter short-run ...
A: Monetary policy is the monetary authority of the economy which manages the interest rate and short t...
Q: Suppose the government runs a budget surplus. Compared to a balanced budget, the real interest rate ...
A: Since you have posted multiple questions, we will solve the first question for you. If you want any ...
Q: What is Determinants of supply?
A: Supply: - Supply is the quantity of goods and services that the suppliers are supplying for the cons...
Q: Humanity is faced with a tough choice, work or leisure. Within the theory of consumer behaviour, app...
A: When the budget line intersects the indifference curve, consumer optimization happens. On the same i...
Q: many countries produce a single good upon which much of their economy depends. That good might be co...
A: The production possibility frontier (PPF) is a graph that depicts the maximum amount of two items th...
Q: How many years are required for P1,500 to increase to P2,500 if invested at 8% per year compounded a...
A: The compounded annually is the value that is present worth and future worth. The present worth is ca...
Q: At age 30 you invest P5,500 into a mutual fund. If the fund averages an 7% annual return, your inves...
A: Investing at the age of 30 till 55 age then total number year is 25 years and it will earn 7% Intere...
Q: Price 300 275 250 225 200 - 175 150 125 100 75- 50 - 25 25 30 75 100 125 150 175 200 Ority Refer to ...
A: Equilibrium in the market occurs where quantity demanded equals quantity supplied.
Q: Suppose market demand for oil is Q(P) = 100 – 0. 75P where Q is billions of barrels (BBL)or oil per ...
A: The market demand refers to the demand of different quantities are demanded at different price level...
Q: There is evidence that income per worker is converging in A) the richest countries and the poorest c...
A: The measure of the amount of income that is being earned per person in a geographic region or nation...
Q: 1. there are two companies (company 1 and company 2) that operate in a market where both firms produ...
A:
Q: The rule of 70 shows us that a) very large economic growth rates are required to improve living stan...
A: The rule of 70 is a formula for calculating how long it takes for a person's money or investment to ...
Q: Why is the more recently emerged security-industrial complex detrimental to achieving justice
A: The overcrowding of our nation's jails is one of the most challenging concerns facing our criminal j...
Q: Suppose that you have a job paying $50,000 per year. With a 5% probability, next year your wage will...
A: Given The income per year =$50,000 There is a 5% chance that the next year the wage is reduced to $...
Q: In a perfectly competitive market you can expect the following changes to occur in long run if firms...
A: The structure of a market where there are a large number of sellers selling homogenous products and ...
Q: 60 MC 40 АТС AVC 20 50 100 150 Quantity efer to the graph shown above. Assume the price is $30 What ...
A: Profit maximization is the process through which a business determines the pricing, input, and outpu...
Q: is it better to have bank based or market based eco
A: An economy is a complex system of interconnected production, consumption, and trade activities that ...
Q: 1. there are two companies (company 1 and company 2) that operate in a market where both firms produ...
A: Given that: Q = 11 - 0.25PQ = q1 + q2TC = 4qa In Bertrand Competition with homogeneous items, the pr...
Q: Scenario 2: An investment tax credit effectively lowers the tax bill of any firm that purchases new ...
A: The repeal of the investment tax credit will reduce corporate investment, causing demand for loanabl...
Q: A two-firm coal cartel that produces at a constant marginal cost of £22 faces a market inverse deman...
A: The correct answer is given in the second step.
Q: QUESTION 11 A market for clocks is in equilbrum You are told that marginal costs of producing clocks...
A: Producer surplus is the are below the price and above the supply curve for given equilibrium quantit...
Q: Suppose Sarah's pottery studio is currently charging the market price that is just higher than her m...
A: The firm maximizes profit by producing at a level where marginal revenue equals marginal cost.
Q: A monopolist with a marginal cost MC = 2 faces two types of customer groups. Type 1 has it inverse d...
A:
Q: A recent government study reported that a college degree is worth an extra P150,000 per year income ...
A: The degree will fetch yearly extra income of 150,000 for 40 years . And it will fetch every year for...
Q: What were other sources of economic growth besides slavery?
A: Economic Growth is the increase in the output or production of goods and services in the country dur...
Q: Question 2 The cross elasticity of demand measures the responsiveness of the quantity demand a parti...
A: As a policy we are supposed to provide solution for only question at a time. Since you have asked mu...
Q: Suppose the aggregate consumption function is represented by C = £1,000 + 0.5*YD, where YD is dispos...
A: Given:- Consumption; C=£1000+0.5YD where; C= Consumption function YD= Disposable Income At equilibri...
Q: Explain how monopolies employ average cost pricing
A: Monopolies have one seller and a large number of buyers. There are no close substitutes. Under monop...
Q: 1. If the average cost of a plant to produce a "q" unit is explained by the functions below this: C...
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer one question at a ti...
Q: Question : Mike Nelson, a CEO of Global Foods, Inc. asks his board of directors to approve a decisio...
A: Note:- Since you have put a multi-part question, we are providing you with the solutions to the firs...
Q: 9 years and an annual operating cost of IDE 1,500,000. If type z is selected then there is an extra ...
A: EUAC is uniform equivalent annual cost which is equivalent all cost including the cost of acquisitio...
Q: Joe is a college football player considering whether to attend another year of college or to enter t...
A: When talking about marginal analysis in economics, it refers to analyzing the cost and benefit assoc...
Q: Given the cash flow below: Revenue,S 2,500 2,500 2,500 2,500 year 1 3 4 Calculate the present value ...
A: Cash flow is the movement of money in and out of a company. Cash received signifies inflows, and cas...
Q: directions: Use the given scenarios and the information you have learned about Fiscal and Monetary p...
A: When an economy grows faster than its potential, actual production exceeds potential output at full ...
Q: Scenario 1: Suppose savers either buy bonds or make deposits in savings accounts at banks. Initially...
A: A loan fee is how much interest due per period, as an extent of the sum loaned, stored, or acquired.
Q: What is the effect of an ad valorem tax of v (the share of the price that goes to the government) on...
A: A fully competitive corporation just has to make one fundamental decision that is how much to produc...
Q: An inventor found a new way to produce more steel from each ton of her country’s iron ikr. How would...
A:
Q: There is a growing concern with the incidence of poverty among unattached, non-elderly individuals. ...
A: Poverty means the people are poor and are unable to get food, shelter, and basic needs. They are the...
Q: When the Federal Reserve sells government securities on the open market, what effect does this actio...
A: Whenever the government manipulate the open market by any of its actions then this means that this w...
Q: Question No, 3 An apartment in a building had a cost of 66,000 JD in 2010. The cost of the apartment...
A: Given information: Nominal cost of apartment in 2010: 66,000 JD Nominal cost of apartment in 2017: ...
Q: The market (inverse) demand function for a homogeneous good is P(Q) = 10 – Q. There are two firms: f...
A: Total cost is the expenditure of converting raw material into finished goods. It means the expenditu...
Q: Private firms that accept deposits and extend loans are known as a) mutual funds. b) banks. Oc) secu...
A: Mutual funds is that types of funds in which investors invest in many type of Assets, in generally...
Q: Which of the following is true for a monopoly? a. p=mr b. p=mc c. a monopoly can sustain positive pr...
A: 3) A monopoly is a market structure where there is one seller and many buyers. The conditions in the...
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- Price per Unit Units Produced 2007 2008 2009 2010 Blueberries 8 $2 $2 $2.1 $2.4 Pineapples 5 $2 $2.5 $2,5 $3 $4 $3.5 Cheese 3 $2.5 $3 If 2009 is the base year, the inflation rate between 2008 and 2009 is Select one: O a. 9.4% O b. 6.2% O c. 4.0% O d. 5.8%Suppose the population is 300 million people.Of these, 70 million people are classified as "not surveyed," 80 million people as not in the labor force, and 144 million as employed.What would be the unemployment rate in this example? Select one. a. 4% O b. 8% O c 6% Od. 2% Oe. 10%Based on the following data for the country of Tiny Town, the unemployment rate equals: Population = 100 Labor force = 80 Number of employed persons = 70 %3D Number of discouraged workers = 5 Select one: O a. 12.5% O b. 18.75% O c. 10% O d. 7.14%
- Suppose that the adult population is 6 million, the number of employed is 3.8 million, and the labor-force participation rate is 70%. What is the unemployment rate? Select one: O a. 9% O b. 10.5% O c. 9.5% O d. 6.7%Total Currently employed Not working and Want to work but no population (millions) looking for work longer looking for work (millions) (millions) (millions) 160 80 4 8. In the table above, the size of the labor force is O 160 million O 84 million O 92 million O 80 millionSuppose that the steady-state unemployment rate is 11.765% and the rate of job separation is 2%. Then, it must be the case that the rate of job finding is: O a. 10% O b. 20% None of the other choices is correct. O C. O d. 15%
- The wage setting equation: W = P(1 − u + z), where u is the unemployment rate and z is the unemployment benefit payment, which is assumed to be 6%. The markup is assumed to be 7%. The natural rate of unemployment is (round to the nearest decimal): O a. 6.3% O b. 9.5% O c. All of the answers here are incorrect O d. 12.5% O e. 6.5%The news article states that "Canadian youth and students are getting hit hard by this pandemic." In May 2020 the number of unemployed 15-24 year-olds was 1,710,900 and the 15-24 year-old labour force was 2,420,800. What was the unemploy te of youth? ne employment rate was D A. 41.6 percent O B. 13.7 percent OC. 29.4 percent O D. 24.1 percentThe graph below depicts the market for labor Wage Rate 17 16 15 .. 14 .. 13 13 12 11 10 2 4 6 8 10 12 14 16 18 20 Quantity of Labor (in thousands) Market for Labor Suppose a recession has caused the demand for labor to shift from D₁ to D₂. How many workers will be unemployed? Multiple Choice O O O 1,000 workers 2,000 workers 4,000 workers 6.000 workers
- Giving each firm that hires one or more welfare workers a payment of $1.000 per year, irrespective of the number it hires, is likely to be O A. successful because firms hire workers such that the marginal revenue product of labor equals the marginal cost of labor, and this approach reduces the marginal cost of labor by $1,000 per worker, increasing employment O B. successful at increasing employment by one additional worker because firms hire workers such that the marginal revenue product of labor equals the marginal cost of labor, and this approach reduces the marginal cost of labor by $1,000 for the first worker hired. O C. unsuccessful at increasing employment because firms hire workers such that the marginal revenue product of labor equals the marginal cost of labor, and this approach does not affect the marginal cost of labor. O D. successful because firms hire workers such that the marginal revenue product of labor equals the marginal cost of labor, and this approach reduces the…Figure 3.2 Si 15 S2 10 5. D2 Di 20 30 40 Quantity of Labor In Figure 3.2, assume that we have labor market demand and supply curves of D2 and S1, respectively. What is the equilibrium wage and employment level? O $15; 30 workers O 5; 30 workers $5; 20 workers O $10; 40 workers Wage Rate ($ per day)Question 36 Table 28-3 Civilian labor force Persons unemployed 15 weeks or longer Job losers and persons who have completed temporary jobs (excludes job leavers) Total unemployed Total unemployed plus discouraged workers Total unemployed plus all marginally attached workers Total mployed plu all marginally attached workers plus total employed part-time for economic reasons Refer to Table 28-3. What is the U-2 measure of labor underutilization? a. 1.5% O b. 3.1% O c. 6.2% O d. 4.7% 100 million 1.6 million 3.1 million 6.2 million 7.0 million 8.1 million 9.2 million