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AVprozaik [17]
3 years ago
14

Unemployment and Labor Force Participation: Work It Out 1 of 3 Suppose the island nation of Freelandia is composed entirely of t

he following mutually exclusive groups: 190 people who are employed. 10 people who are unemployed. 20 people who are students. 30 people who are retired. 60 people who are children. What is the size of the labor force in Freelandia?
Business
1 answer:
gtnhenbr [62]3 years ago
4 0

Answer:

200

Explanation:

The labor force in an economy is composed of all adults able-bodied individuals who are employed or actively seeking employment. Employed people are those engaged in economic or income-generating activities.  Unemployed are jobless individuals who are actively seeking work.

In Freelandia, labor force participation will be composed of the employed and the unemployed people.  As per the definition of the labor force, children will not be included as they are not adults. Students and retired people are not seeking employment; hence should not be in the labor force. Therefore, the labor force will be 190 plus  10, which is 200.

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Suppose an economy is initially operating at long-run equilibrium when there is an increase in consumer optimism about the econo
sladkih [1.3K]

Answer:

The correct option is Increase and Decrease respectively

Explanation:

6 0
3 years ago
If you are in a car accident cause by someone else who also has insurance, which type of insurance plan will not require you to
max2010maxim [7]
If you are in a car accident cause by someone else who also has insurance, the type of insurance plan that will not require you to pay out of pocket costs is liability insurance. If the car accident was not your fault and the person who caused the accident is also insured the claim should be paid by him under his coverage and your pocket will be safe as well as your insurance will not be affected.
7 0
4 years ago
(1 point) Sam is applying for a single year life insurance policy worth $69,800.00. If the actuarial tables determine that she w
zepelin [54]

Answer:

The expected value might go down by $308.

Explanation:

Find the expected value of life insurance if the premium is $393.00

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The answer will be:

(393) * (0.99) - (69800) * (0.01) = -308

6 0
3 years ago
Suppose that the market equilibrium price for a medical check-up is $50, in a market in which there is no health insurance. To e
never [62]

Answer:

a. Price ceiling

b. see graph

c. Increases

d. Increases, decreases

Explanation:

a. Price ceiling is the maximum price or ceiling so to speak imposed by government for a particular commodity inorder to relieve purchase burden from the consumers.

b. Take note of the price ceiling in the graph attached.

c. Number of demanded check-ups increases, since they are now more affordable.

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4 0
3 years ago
What are six resources for helping you decide what type of business to start and how to start it
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1. Find a good business idea

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<span><span>Identify your strengths and weaknesses <span>Conduct a SWOT analysis<span> on yourself </span></span></span><span><span>Come up with a business idea </span>that caters to your strengths </span><span><span>How to start inventing things </span>(or how to find something to invent)</span>Define what success looks like for you <span><span>Do your research: </span><span>What are popular businesses today?</span></span></span>
8 0
3 years ago
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