Use the labour market information given below to answer the following questions: * Total opulation = 10 milliol Working - a * ge population = 7.5 million Labour force = 6 million Unemployed = 1 million Calculate the number of individuals (in millions) not in the labour force. a) 2.5 b) 1 c) 1.5 d ) 4.0
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- Consider a small island country whose only industry is fishing. The following table shows information about the small economy in two different years. Complete the table by calculating physical capital per worker as well as labor productivity. Year Physical Capital (Fishing poles) Labor Force (Workers) Physical Capital per Worker (Fishing poles) Labor Hours (Hours) Output (Fish) Labor Productivity (Fish per hour of labor) 2016 160 40 2,000 20,000 2017 180 60 3,900 29,250 Based on your calculations, (a. an increase, b. a decrease) in physical capital per worker from 2016 to 2017 is associated with (a. an increase, b. a decrease) in labor productivity from 2016 to 2017. Suppose you're in charge of establishing economic policy for this small island country. Which of the following policies would lead to greater productivity in the fishing industry? Check all that apply. ___ Subsidizing research and development into new…An operation in a company has 25% scrap rate. It produces 2000 units in a ten-hour day. The units are produced by 4 workers who use 400 kilos of raw materials. Workers are paid 5 Omani Rials per hour; raw material cost is 0.5 Rial per kilo. The overhead cost is 50 Omani Rials. Calculate the Multifactor productivity (labor +raw material + overhead). Round to the nearest two decimal places. Select one: a. 3.33 O b. 2.67 O c. 4.44 O d. None is correctIf Fender Guitar pays $30 per day to a worker in itsEnsenada, Mexico, plant, and the employee completes fourinstruments per 8-hour day, the labor cost/unit isa) $30.00.b) $3.75.c) $7.50.d) $4.00.e) $8.00
- Suppose the Tasty Taco Company produces tacos. The number of tacos it can produce each hour depends on the number of workers it hires, as shown in the accompanying table. In addition, each taco can be sold for 50 cents more than the cost of the ingredients needed to produce it. Number of workers per hour Number of tacosper hour 0 0 1 25 2 45 3 60 4 70 5 75 What is the value of the marginal product of the fourth worker hired each hour? Select one: a. $5 b. $35 c. $10 d. $70Which one of the following is true about division of labour? Select one: a. Growing business b. Single entrepreneur c. All of the options mentioned d. Small businessWhen Peet’s Coffee conducts a wage survey and then, based on the results, gives many employees a raise to bring them up to industry standard, it is striving to satisfy _______
- AI Maha company produces 1000 units in a ten-hour day by 6 workers who use 400 kilos of raw materials. Workers are paid 5 omani Rials per hour; raw material cost is 0.5 Rid per kilo. The overhead cost is 60 omani Rials. Calculate the labor productivity (per labor hour). 0 a. 16.67 O b. None is correct C) c. 1212 0 d. 25.25 O e. 10.67Hokey Min’s Kleen Karpet cleaned 65 rugs inOctober, consuming the following resources:Labor: 520 hours at $13 per hourSolvent: 100 gallons at $5 per gallonMachine rental: 20 days at $50 per daya) What is the labor productivity per dollar?b) What is the multifactor productivity?hHow is there is a common misconception that labour is the main factor affecting productivityand that working harder is equivalent to higher productivity and discuss about what are the other various other factors which can equally affect productivity.
- An operation in a company has 25% scrap rate. It produces 2000 units in a seven-hour day. The units are produced by 4 workers who use 400 kilos of raw materials. Workers are paid 5 Omani Rials per hour, raw material cost is 1 Rial per kilo. The overhead cost is 50 Cmuni Rials Calculate the Multifactor productivity (labor +raw material + overhead) Round to the nearest decimal place. Select one: O a. 254 O b. None is correct OC1.93 O d.339 O e04Can labor productivity be calculated using the following formula: Labor productivity= unites produces/ total labot cost ?Who has the lowest productivity? Workers Orders Processed Customer Type Hours Worked Wage/hr: Supply Cost per 4 Hour Shift Benefit Cost per Hour is 10% of Hourly Wage Productivity (Orders Processed Per Labor Dollar) Jordan 80 Blue 8 $15 $20.00 Hector 45 Red 4 $13 $10.00 DeAndre 50 Red 4 $16 $15.00 Susan 90 Red 8 $13 $8.00 Selena 55 Blue 8 $11 $7.50 Erin 40 Blue 4 $12 $12.50 Jose 100 Blue 8 $17 $14.00 Dimitri 105 Red 8 $15 $17.50 Helen 80 Blue 8 $15 $15.00 Kat 40 Red 4 $13 $11.00