Answer:
The temporary unemployment resulting from such sectoral shifts in the economy is best described as frictional unemployment.
This is because it is temporary and people in the affected sector could opt for jobs in other performing sectors of the economy.
Explanation:
Suppose the world price of cotton falls substantially, the following scenario will ensue.
The demand for labor among cotton-producing firms in Texas will reduce .
The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, will also decline .
The temporary unemployment resulting from such sectoral shifts in the economy is best described as frictional unemployment.
Frictional unemployment is seasonal employment that could occur when there is no demand or work period is completed unlike structural unemployment that can last for long.
It is a temporary unemployment situation because workers in the cotton industry could opt for jobs in other performing sectors of the economy.
Answer:
labor force growth and productivity growth.
Explanation:
A country's long run growth rate is generally calculated by adding the increases in the market value of the goods and services produced within a country during a period of time. It is generally stated as a percentage growth of real GDP.
The real GDP's growth rate is determined by two factors: labor force growth and productivity growth. So it is determined by the growth in productivity, demographic growth and labor force participation.
Answer:
Direct material quantity variance= $810 unfavorable
Explanation:
Giving the following information:
Standard quantity 6.5 liters per unit Standard price $1.00 per liter
Actual production was 2,400 units.
The company used 16,410 liters of direct material to produce this output.
<u>To calculate the direct material quantity variance, we need to use the following formula:</u>
<u></u>
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Standard quantity= 6.5*2,400= 15,600
Direct material quantity variance= (15,600 - 16,410)*1
Direct material quantity variance= $810 unfavorable
Answer:
The amount by which each additional dollar of government spending increase output (Y) is 4.
Explanation:
Since you save 25% of each additional dollar of income, we therefore have:
MPS = Marginal propensity to save = 25%, or 0.25
Multiplier = 1 / MPS = 1 / 0.25 = 4
The multiplier is the amount by which each additional dollar of government spending will increase output (Y).
Therefore, the amount by which each additional dollar of government spending will increase output (Y) is 4.
Additional note:
This is not part of the requirement of the question but it is just for you to learn from.
Since we have:
Increase in government spending = $100
Therefore, we have:
Increase in output (Y) = Multiplier * Increase in government spending = 4 * $100 = $400
Answer:
1.3%
Explanation:
To find the monthly return , the formula is =
Interest payment/ present value
$15,000 / $115,000 = 0.013043 = 1.3%
I hope my answer helps you
