Use the labour market information given below to answer the followingquestions: * Total opulation = 10 milliol Working - a * ge population = 7.5million Labour force = 6 million Unemployed = 1 million Calculate thenumber of individuals (in millions) not in the labour force. a) 2.5 b) 1 c) 1.5 d) 4.0

The objective of the question is to calculate the number of individuals not in the labour force…

Answered: Use the labour market information given…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The term that describes the difference in wage rates in the labour market is called: Occupational wage structure Wage differential Adjustment Lag Compensating wage differentials Labour market barriers
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please don't copy from chegg otherwise I will give you downvote I want you answer in detail. I'm not satisfied with other answer. if you are not sure do not answer. Suppose there is a town with 800,000 people. 200,000 of these people work full-time while 240,000 work part-time. 180,000 of these part-time workers want to work more hours, but are not permitted to do so by their respective employers. Another 85,000 individuals in this town are under the age of 16. 275,000 other individuals are currently not working. 215,000 of these individuals are actively seeking work, while 60,000 individuals have given up looking for a job. Of the 215,000 who are actively seeking work, 150,000 lost their jobs due to the effects on business losing demand due to COVID-19. 30,000 of the 215,000 lost their jobs due to technological advancements, and the remaining 35,000 are not working due to normal turnover in the labor force. Solve for the labor force in this community. Solve for the number of people…
Suppose the price of manufactured goods is 2, price of food goods is 5. The production function for Qm=Lm^0.60 and QF=5*LF^0.60. The total number of workers, L, is 4986. What is the number of workers in the manufacturing sector?
Which one of these individuals is a part of the eligible population, but NOT part of the labor force? Select one: a. A 19 years old who is working part time in a beauty salon b. A 22 years old who is looking for a job after graduating from college but cannot find one c. A 33 years old who stays at home to take care of his kids d. A 42 years old who works in jail after committing grand larceny e. A 75 years who is still working full time as an attorney
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Problem 08-02 algo Refer to the figure to answer two questions. Marginal Revenue Product(per hour) $22 $20 $18 $16 $14 $12 $10 $8 $6 $4 $2 2 worker(s) MRP b. $10 an hour? 4 worker(s) 6 Quantity of Labor(workers per hour) 8 According to the figure, how many workers would be hired if the prevailing wage were Instructions: Enter your responses as a whole number. a. $14 an hour? 10 12 14
Attached is the unfinshed labor market data for a firm that sells dog treats. Complete the table with the correct values.

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