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dimaraw [331]
3 years ago
8

Hawaiian Airlines will hire more workers as it expands its fleet. The new hirings are a welcome sign for​ Hawaii's economy, whic

h lost jobs during the year to May 2009 as the​ state's unemployment rate rose from​ 4% to​ 7%.
The labor force was​ 602,000 in May 2009 and​ 622,600 in May 2008.
Calculate the change in the number unemployed between May 2008 and May 2009.
The number unemployed in May 2008 is
Business
1 answer:
frozen [14]3 years ago
3 0

Answer:

The answer is 24,904.

Explanation:

Solution

Given that:

Now,

The unemployment rate =( unemployment/labor force) * 100

Thus,

Unemployment  =( unemployment/labor force) * 100

In May 2008, unemployment = (4 * ​ 622,600 )/100 = 2,490,400/100

=24,904

In May 2009, unemployment = ( 7 *  602,000)/100 =4,214,00/100

=42,140

So,

Number of employed people = 2009 unemployment  - 2008 unemployment = 42,140 - 24,904

=17,236

Therefore the of unemployed people in may 2008 is 24,904.

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To calculate point estimate, we divide the parameter by the whole population.

In case of this problem:
p hat = 51/84 = 0.607

To get the percent, we multiply the output by 100:
% of point estimate = 0.607 x 100 = 60.7%
7 0
3 years ago
If a 10% decrease in the price of one product that you buy causes an 8% increase in quantity demanded of that product, will anot
Bad White [126]

Answer:

No

Explanation:

to determine if another 10% decrease in the price cause another 8% increase (no more and no less) in quantity demanded, we have to determine the price elasticity of demand.

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

8% / 10% = 0.8

demand in inelastic so a 10% reduction in price would lead to a less than 8% change in quantity demanded  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

8 0
3 years ago
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4 0
3 years ago
Zack has two savings accounts with a total of $9,000. he withdrew 10% from one and 60% from the other to buy his girlfriend an e
skelet666 [1.2K]
Originally,
Let x = the balance in the first account.
Let y = the balance in the second account.

The total amount in the two accounts is $9,000, therefore
x + y = 9000                      (1)

Zack withdraws 10% of x and 60% of y for a total of $2,175.
Therefore
0.1x + 0.6y = 2175
or
x + 6y = 21750                   (2)

Subtract (1) from (2).
x + 6y - (x + y) = 21750 - 9000
5y = 12750
y = 2550
From (1), obtain
x = 9000 - 2550 = 6450

The balance in the first account is
0.9*x = 0.9*6450 = $5,805
The remaining balance in the second account is
0.4*y = 0.4*2550 = $1,020

Answer:
The balance in the first account is $5,805
The balance in the second account is $1,020

8 0
3 years ago
Valley Technology Balance Sheet As of March 11, 2020 (amounts in thousands) Cash 9,700 Accounts Payable 1,500 Accounts Receivabl
ollegr [7]

Answer:

total liabilities = accounts payable $11,500 + unearned revenue $7,500 + debt $65,900 + other liabilities $800 = $85,700

Explanation:

Cash 9,700 Accounts Payable 1,500 Accounts Receivable 4,500 Debt 2,900 Inventory 3,800 Other Liabilities 800 Property Plant & Equipment 16,400 Total Liabilities 5,200 Other Assets 1,700 Paid-In Capital 7,300 Retained Earnings 23,600 Total Equity 30,900 Total Assets 36,100 Total Liabilities & Equity 36,100

1. Buy $15,000 worth of manufacturing supplies on credit

Supplies                                           Accounts payable

debit                credit                       debit                credit

15,000                                                                       1,500

                                                         <u>                         15,000</u>

                                                                                  16,500

2. Issue $85,000 in stock

Cash                                                 Paid-In Capital

debit                credit                       debit                credit

9,700                                                                        7,300

<u>85,000                        </u>                     <u>                        85,000</u>

94,700                                                                     92,300

3. Borrow $63,000 from a bank

Cash                                                 Debt

debit                credit                       debit                credit

94,700                                                                      2,900

<u>63,000                         </u>                    <u>                        63,000</u>

157,700                                                                    65,900

4. Pay $5,000 owed to a supplier

Cash                                                 Accounts payable

debit                credit                       debit                credit

157,700                                                                     16,500

<u>                         5,000  </u>                    <u>5,000                          </u>

152,700                                                                     11,500

5. Receive payment of $12,000 owed by a customer

Cash                                                 Accounts receivable

debit                credit                       debit                credit

152,700                                            4,500                        

<u>12,000                         </u>                     <u>                         12,000</u>

164,700                                                                     7,500

Due to some strange reason, accounts receivable has a debit balance (= $4,500 - $12,000). Since that is not possible, the remaining part $7,500 must be included under unearned revenue:

Accounts receivable                       Unearned revenue

debit                credit                       debit                credit

                        7,500                                               0                        

<u>7,500                         </u>                       <u>                         7,500</u>

0                        0                                                      7,500

 

7 0
3 years ago
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