Pop-Quiz/12 points!!

opulation 500 Population over age 16 400 Persons employed full-or part-time 200 Persons unemployed and actively seeking work 20

Reika [66]

Answer:

The number of people employed = 200

The number of people unemployed = 20

The number of people in the labor force = 220

Explanation:

a) Data and Calculations:

Population = 500

Population over age 16 = 400

Persons employed full-or part-time 200

Persons unemployed and actively seeking work 20

Persons who have quit seeking work due to lack of success 10

Part-time workers seeking full-time jobs 30

The number of people employed = 200 (full-or part-time)

The number of people unemployed = 200 (400 - 200)

The number of people in the labor force = employed and unemployed seeking work (200 + 20) = 220

b) A country's labor force is made up of employed persons (full-time or part-time) and persons actively looking for work. Some of the population who are not actively seeking employment may be kept of the labor force because of education or family responsibilities. These persons may return to the labor market later.

3 0

3 years ago

Crane Company has a unit selling price of $500, variable costs per unit of $260, and fixed costs of $184,800. Compute the break-

Ostrovityanka [42]

Answer:

Break-even point in units= 770

Explanation:

Giving the following information:

Selling price= $500

Unitary variable cost= $260

Fixed costs= $184,800

To calculate the break-even point in units using the mathematical equation, we need to use the following formula:

Net income= unit contribution margin*x - fixed costs

x= number of units

0= (500 - 260)*x - 184,800

184,800/240 = x

770=x

Now, under the unit contribution margin method:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 184,800/240

Break-even point in units= 770

5 0

3 years ago

The price elasticity of demand, E, is defined as the:

Over [174]

Answer:

The correct answer is "Percentage change in quantity demanded divided by the percentage change in price of that good".

Explanation:

The elasticity of demand is a measure used in economics to show the degree of response of the quantity demanded of a good or service to changes in the price it presents. It grants the percentage change of the quantity demanded about a unitary percentage change in the price, with the other variables considered constant.

The E is a measure of the sensitivity of the quantity demanded of a good or service to changes in its price. Its formula normally produces a negative result due to the inverse nature of the relationship between the price and the quantity demanded.

Have a nice day!

6 0

3 years ago

Business writing is more forceful if it uses active-voice verbs. Revise the following sentences so that verbs are in the active

seraphim [82]

Answer:

The manager gave employees their checks at 4 p.m. every Friday.

McDonald’s tried new spices and cooking techniques to improve its hamburgers.

My boss designed our new company logo.

The CEO commended the managers with the most productive departments .

The leader asked all team members to brainstorm for 10 minutes .

Explanation:

a. Employees were given their checks at 4 p.m. every Friday by the manager.

Active: The manager gave employees their checks at 4 p.m. every Friday.

b. New spices and cooking techniques were tried by McDonald’s to improve its hamburgers.

Active: McDonald’s tried new spices and cooking techniques to improve its hamburgers.

c. Our new company logo was designed by my boss.

Active: My boss designed our new company logo .

d. The managers with the most productive departments were commended by the CEO.

Active: The CEO commended the managers with the most productive departments .

e. All team members were asked by the leader to brainstorm for 10 minutes.

Active: The leader asked all team members to brainstorm for 10 minutes .

7 0

4 years ago

IGM Technologies sells a new calibrated filtering system used to virtually eliminate all types of hazardous gas emissions in che

BabaBlast [244]

Answer:

Personal Selling

Explanation:

Personal Selling is one of the elements of promotion mix which involves one to one sales communication with potential customers. Personal selling is one of the most effective promotion approaches because it can be tailored to meet potential customers needs, especially when sales of a particular product and service demands that.

In the case of IGM Technologies, personal selling would be the most likely used because of the complex technology that customers may not understand easily and need for sales personnel to educate potential customers about the product.

Others elements of promotion mix, such as advertising, public relations and mass marketing will be less effective as they don`t bring sales personnel close to potential customers as personal selling. And using any one of three other elements of promotion mix will not help potential customers to understand the complex technology, manner of usage and how to maintain the filtering system.

So personal selling will most likely be used.

7 0

3 years ago