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Juli2301 [7.4K]
4 years ago
9

Consider a small economy composed of six people: Musashi, Lucia, Paolo, Amy, Van and Sharon. Each person's employment status is

described in below.
1. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person’s status as Employed, Unemployed, "Not in the labor force" if not in the civilian labor force but still part of the adult population, or "Not in the adult population" if not in the civilian adult population.
A) Musashi is a 47-year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job but was given only 3 hours of work.
B) Lucia is a 29-year-old professional basketball player. She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position.
C) Paolo is a 39-year-old graphic designer who is taking 2 years off from work to care for his small daughter.
D) Amy is a 31-year-old science teacher who taught at West Valley Middle School last year. Due to budget cuts, she was laid off at the end of the school year. It's the summer now, and after a few weeks of vacation with her family, she is looking for a part-time job as a tutor.
E) Van is a 20-year-old American studies major at the University of Tennessee. It's summer now, and he is working as a lifeguard in Mobile, Alabama.
F) Sharon is a 13-year-old student at West Valley Middle School. She baby-sits her younger sister and does other chores for which her parents give her an allowance of $30 per week.
Business
1 answer:
antoniya [11.8K]4 years ago
8 0

Answer:

Explanation:

D

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Answer:

B. An increase in the physical capital stock of the country 

Explanation:

Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.

GDP calculated using the expenditure approach = Consumption spending + Investment spending + Government Spending + Net Export

If physical capital stock is increasing, it means investment spending is increasing and gdp would rise.

Increase in tax rate reduces disposable income which leads to a fall in consumption and gdp.

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4 0
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Answer:

Accounting profit=$300,000

Explanation:

<em>Accounting profit is the difference between revenue from from production or service activities and the expenditures incurred.  </em>

<em>It is the difference between the total revenue and the</em><em> total explicit costs</em><em>. Explicit costs are those transaction cost incurred to generate revenue . E.g the cost of the material , labour, expenses e.tc.</em>

On the other hand, economic profit includes accounting profit plus opportunity cost. Opportunity cost is the value of the benefits sacrificed in favour of a decision.  

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