If the number of employed workers equals 200 million and the number of unemployed workers equals 20 million, the unemployment rate equals 9%.
<h3>What is the unemployment rate?</h3>
The unemployment rate is the percentage of the labour force that is unemployed.
The unemployment rate = (number of unemployed people / total labour force) x 100
Total labour force = 200 million + 20 million = 220 million
(20 / 220) x 100 = 9%
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Answer:
a. $6,400.
Explanation:
In solving this question on Computing the amount of Purchasing department expense to be allocated to Assembly, we'll have to use the formula below:
Purchasing department expense to be allocated to Fabrication = Total Cost of purchasing department X number of purchase order in / Total numbers of purchase orders in all operating departments
= $32000 X 4/20 = $6,400
Answer:
The incidence of a tax is determined by which group (buyers or sellers) must actually pay the government. FALSE, the real effect of taxes is measured by the price elasticity of the demand and the supply.
When demand is inelastic and supply is elastic, the burden of a tax falls mainly on producers. FALSE, when the price elasticity of demand is inelastic and the price elasticity of supply is elastic, the burden of tax falls mainly on the consumers.
When demand is elastic and supply is inelastic, the burden of a tax falls mainly on consumers. FALSE, when the price elasticity of demand is elastic and the price elasticity of supply is inelastic, the burden of tax falls mainly on the suppliers.
An excise tax can distort incentives and create missed opportunities for mutually beneficial transactions. TRUE
Answer:
inelastic demand
Explanation:
Price elasticity of demand (PED) measures the proportional change in quantity demanded when the price of a product or service changes:
- when a 1% decrease in price, increases quantity demanded in a smaller proportion, the PED is said to be inelastic.
- when a 1% decrease in price, increases quantity demanded in a larger proportion, the PED is said to be elastic.
- when a 1% decrease in price, increases quantity demanded in the same proportion, the PED is said to be unit elastic.
In this case, the decrease in price (-2%) barely increased the quantity demanded, therefore, the PED is inelastic.
