Answer:
105 shifts
Step-by-step explanation:
Hourly net rate of pay = $12
1 shift = 8 hours
⇒ net pay per shift = $12 × 8 = $96
Total cost = tuition + residence + books
= $4500 + $4800 + $700
= $10,000
To calculate how many shifts Joanne needs to work, divide the total cost by the pay per shift and round it up:
Number of shifts = total cost ÷ net pay per shift
= $10,000 ÷ $96
= 104.1666666...
= 105 shifts
<u>Note</u>: we need to round up, as if Joanne works 104 shifts, she will earn $9,984 which is not quite enough to pay for tuition, residence and books.
To solve this you need to take the answer from the previous iteration.
Iteration 1: The answer is given
a1 = 300
Iteration 2: Solve using the equation. a(n-1) is the answer from the previous iteration. n = the number of the current iteration. So, a(n-1) = 300 and n = 2
a2 = 300/2 = 150
Iteration 3: a(n-1) = 150 and n = 3
a3 = 150/3 = 50
Iteration 4: a(n-1) = 50 and n = 4
a4 = 50/4 = 12.5
Answer: 12.5
The answer to your equation would be: 150x0.200%=0.3
Answer:
a. 18 percent
b. $90 billion
Step-by-step explanation:
a. Calculation to use Okun's law to determine the size of the GDP gap in percentage-point terms.
First step is to find the difference between ACTUAL RATE of unemployment and NATURAL RATE of unemployment
Difference=13%-4%
Difference= 9%
Based on the information above calculation we can see that the ACTUAL RATE of unemployment EXCEEDS the NATURAL RATE of unemployment by 9%, which indicates a CYCLICAL UNEMPLOYMENT.
Thus, According to Okun's law, this translates into an 18 % GDP gap in percentage-point terms (= 2 × 9%).
Therefore the the size of the GDP gap in percentage-point terms is 18 percent
b. Calculation to determine how much output is forgone because of cyclical unemployment
Forgone Output :
By applying Okun’s law we known that the GDP gap is 18%, which means that we are 18% below the GDP amount which is given as $500 billion,
Hence,
Output forgone = (18/100) ×$500 billion
Output forgone=0.18×$500 billion
Output forgone=$90 billion
Therefore the Forgone Output is $90 billion
