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nikitadnepr [17]
3 years ago
8

Xenia has 10,000 people. Of this population, 1,000 residents are below age 16, and 2,000 have given up looking for work. Current

ly, 500 people are unemployed but are actively looking for work; 2,500 work part time, and the rest are fully employed. Suppose some of those who had given up looking for work start looking again. The unemployment rate will:
Business
1 answer:
V125BC [204]3 years ago
3 0

Answer:

The answer is: The unemployment rate will increase

Explanation:

To calculate unemployment rate we use the following formula:

Unemployment Rate = Number of Unemployed People / Labor Force (unemployed + employed people)

To be considered unemployed, a person must be without a job, but actively looking for one.

The unemployment rate (UR) for Xenia would be:

UR = unemployed / (unemployed + part time workers + full time workers)

UR = 500 / 7,000 = 7.14%

Currently there are 2,000 people that are not considered unemployed since they are not working but they aren't looking for a job either. For example, if 500 of those would start looking for job and became unemployed, the new unemployment rate (UR) would be: 1000 / 7,500 = 13.33%.

So if more people start looking for a job, the unemployment rate will increase.

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A Truss Above, a home builder in the United States, secures products such as roofing shingles, cabinets, and plumbing materials
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The practice that sees the contractor using outside suppliers to build homes is known as <u>Importing</u>.

<h3>What is importing?</h3>

This refers to when goods are acquired from outside the nation for reasons such as the goods being cheaper and more available.

Truss Above is engaged in importing when it buys goods from outside suppliers and then uses it in the United States.

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2 years ago
Discuss whether or not demand for laser eye surgery will become more inelastic over time
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3 years ago
Imagine you are making a $1000 purchase with different payment options. Which of the following
Tomtit [17]

The payment option that pays the LEAST is <u>B. B. 10% APR, with 12 monthly payments,</u> as it pays back a total of $1,008.33, for borrowing $1,000.

<h3>How to calculate payment options:</h3>

Payment options can be computed using an online finance calculator as follows:

The option that pays the least total cost should be chosen.

<h3>Data and Calculations:</h3>

Loan payment = $1,000

A. 8% APR, no payments for the first 6 months, then 6 monthly payments:

Amount after 6 months = $1,040 ($1,000 + $1,000 x 0.08 x 1/2)

N (# of periods) = 1

I/Y (Interest per year) = 8%

PV (Present Value) = $1,040

FV (Future Value) = $0

<u>Results:</u>

PMT = $174.49

Sum of all periodic payments = $1,046.93 ($174.49 x 6)

Total Interest =$46.93 ($40 + $6.93)

B. 10% APR, with 12 monthly payments:

N (# of periods) = 1

I/Y (Interest per year) = 10%

PV (Present Value) = $1,000

FV (Future Value) = $0

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PMT = $84.03

Sum of all periodic payments = $1,008.33

Total Interest = $8.33

C. 12% APR, with 6 monthly payments:

N (# of periods) = 1

I/Y (Interest per year) = 12%

PV (Present Value) = $1,000

FV (Future Value) = $0

<u>Results:</u>

PMT = $168.33

Sum of all periodic payments = $1,010.00

Total Interest $10.00

Thus, the payment option that pays the LEAST is <u>Option B</u>.

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