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4 years ago

Suppose the civilian non-institutionalized working age population is 35.9 million in Laborland.

Business

1 answer:

DanielleElmas [232]4 years ago

8 0

Answer: a. 24.05 million

b. 66.99%

c. 4.62 million

d. 19.21%

Explanation:

a. Total Labor force is the sum total of people who are employed and those who are actively looking for work. The Bureau of Labor Statistics defines actively looking for work as looking for work int he past 4 weeks.

= Part-time workers + full time workers + those who looked for work in the past 2 weeks + those who looked for work in the past 2 - 4 weeks

= 4.9 million + 14.53 million + 2.90 million + 1.72 million

= 24.05 million

b. labor force participation rate is the percentage of a country's non-institutionalized working age population that are actively looking for work. Its formula = $\frac{total labor force}{non-institutionalized working age population}$ X 100

Laborland's labor force participation rate (%) = $\frac{24.05 million }{35.9 million }$ X 100

= 66.99%

c. Unemployed People by the standards of the Bureau of Labor Statistics are the people who have looked for work in the past 4 weeks and are still employed. That is those who looked for work in the past 2 weeks + those who looked for work in the past 2 - 4 weeks.

= 2.90 million + 1.72 million

= 4.62 million

d. Unemployment rate is the percentage of the labor force that are actively looking for work and are still out of work.

Unemployment rate = $\frac{unemployed}{labor force}$ x 100

= $\frac{4.62 million}{ 24.05 million}$ x 100

=19.21%

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2 years ago

.. What is the legal maximum speed limit permitted when driving in a residential area of the community?

mars1129 [50]

Number #1: 35 mph

Number #2: 55 mph

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3 years ago

Beale Management has a noncontributory, defined benefit pension plan. On December 31, 2018 (the end of Beale's fiscal year), the

uysha [10]

Answer: The projected benefit obligation is $494 millions

Explanation:

Using the formula

Closing PBO = Opening PBO + S + I -B ± A

Where PBO = Projected Benefit Obiligation, S = service cost, I = interest cost, B = Pension benefit paid, A = Gain due to changes in actuarial assumptions

Interest cost = 5% of 460

= (5÷ 100) = 0.05 × 460

= 23

Closing PBO = 460 + 48 + 23 - 23 - 14

= $494

There is an increase in the Projected benefit obligation to $494 million

8 0

3 years ago

Suppose that you can sell as much of a product (in integer units) as you like at $60 per unit. Your marginal cost (MC) for produ

Yakvenalex [24]

Answer:

Profit at the optimal integer output level is $176.50.

Explanation:

This can be determined as follows:

Step 1: Calculation of optimal integer output level

At the optimal integer output level, profit is maximized where marginal revenue (MR) is equal to the marginal cost (MC), i.e. where;

MR = MC ................................ (1)

For any product, the MR is equal to the price per unit of the product. Therefore, we have:

MR = Price per unit = $60

Also given,

MC = 7q

Substituting for MR and MC in equation (1) and solve for q, we have:

$60 = 7q

q = $60 / 7

q = 9 units

Therefore, the optimal integer output level is 9 units.

Step 2: Calculation of total revenue at optimal integer output level

Total revenue = Price per unit * q = $60 * 9 = $540

Step 3: Calculation of total cost at optimal integer output level

Since MC = 7q, the total cost (C) can be obtained by taking the integral of the MC as follows:

C = ∫(MC)dq = ∫[7q]dq = (7 / 2)q^2 + F = 3.5q^2 + F ........... (2)

Where F is Fixed cost which is given as $80.

We then substitute F = $80 and q = 9 into equation (2) to have:

C = 3.5(9^2) + 80

C = (3.5 * 81) + 80

C = 283.50 + 80

C = $363.50

Therefore, total cost at the optimal integer output level is $363.50.

Step 4: Calculation of profit at optimal integer output level

Profit = Total revenue - Total cost ...................... (3)

Where;

Total revenue = $540; from step 2 above.

Total cost = $363.50; form step 3 above.

Substituting the values into equation (3), we have:

Profit = $540 - $363.50 = $176.50

Therefore, profit at the optimal integer output level is $176.50.

6 0

3 years ago

An automobile tier II supplier has been offered a contract to supply a gearbox to a car company. The initial price of the gearbo

Fudgin [204]

Answer:

The contract is worth $1,622,970,237.98

Explanation:

Given

Number of Years = 12

Initial Price = $389

Initial Units = 500,000

Unit Increment = 2%

Price Decrement = $7.5

At Year 0:

$389 * 500,000 = $194,500,000

The Initial price would continue to decrease by $7.5

And the Initial units would continue to increase by 2%.

So,

At Year 1:

($389 - $7.5) * (500,000 * 2% + 500,000)

= $381.5 * 510,000 = $194,565,000

At Year 2:

($381.5 - $7.5) * (510,000 * 2% + 510,000)

= $374 * 520,200 = $194,554,800

At Year 3:

($374 - $7.5) * (520,200 * 2% + 520,200)

= $366.5 * 530,604 = $194,466,366

At Year 4:

$359 * $541,216 = $194,296,5736

At Year 5:

$351.5 * $552,040 = $194,042,2017

At Year 6:

$344 * $563,081 = $193,699,9368

At Year 7:

$336.5 * $574,343 = $193,266,3649

At Year 8:

$329 * $585,830 = $192,737,96810

At Year 9:

$321.5 * $597,546 = $192,111,13011

At Year 10:

$314 * $609,497 = $191,382,12412

At Year 11:

$306.5 * $621,687 = $190,547,113

Calculating present worth of contract (at 6%)

By adding the result of 0.06 * present value at each year.

Net Present Value = $1,622,970,237.98

8 0

4 years ago