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den301095 [7]
3 years ago
11

Historical data shows that during the recession of 1990–1991, the natural rate of unemployment was about 5.9% while the actual u

nemployment rate was 7.0%. A decade later, during the 2001 recession, the natural rate of unemployment fell to 4.8% while actual unemployment was 6.0%. Which of the following statements is correct regarding these two short recessions?
a. The actual unemployment rate was higher during the recession of 1990-1991, but cyclical unemployment was higher in 2001.
b. Both the actual unemployment rate and cyclical unemployment were higher in 2001.
c. The actual unemployment rate was higher in 2001, but cyclical unemployment was higher from 1990-1991.
d. Both the actual unemployment rate and cyclical unemployment were higher during the recession of 1990-1991.
Business
2 answers:
zmey [24]3 years ago
6 0

Answer:

a. The actual unemployment rate was higher during the recession of 1990-1991, but cyclical unemployment was higher in 2001.

Explanation:

Unemployment is defined as the number of people in a population that are willing to work and seeking for jobs but do not have employment.

Natural unemployment is defined as the normal process of leaving jobs and getting jobs in a situation when there is full employment.

Cyclical unemployment is created by recessions and booms.

Actual unemployment = Natural rate + Cyclical rate

Cyclical unemployment= Actual rate - Natural rate

In the first economy

Cyclical rate = 7 - 5.9= 1.1%

In the second economy

Cyclical rate= 6 - 4.8= 1.2%

So actual unemployment was 7% in 1990-1991 while in 2001 it was 6%

Cyclical unemployment was 1.1% in 1990-1991, while cyclical unemployment was 1.2%

Gnesinka [82]3 years ago
5 0

Answer:

A- The actual unemployment rate was higher during the recession of 1990−1991, while cyclical unemployment was higher in 2001.

Explanation:

There are three main types of unemployment: cyclical, structural, and frictional.   The first type is most common and occurs during a recession.  The other 2 on the other hand, constitute the natural unemployment rate.

  • Cyclical unemployment occurs when demand for goods and services drop. This sees workers being laid off to cut costs. Cyclical unemployment creates more unemployment.
  • Natural unemployment comprises frictional and structural unemployment.This explains why there is always unemployment present no matter how well the economy is doing. It involved people changing jobs as well as skills that may no longer be relevant in the previous field of work.
  • Actual unemployment includes both natural employment rate and the cyclical employment rate.

 

Actual rate = cyclical unemployment rate + natural unemployment rate

<em>In 1990-19991,</em>

Cyclical unemployment = 7% - 5.9% = 1.1%

<em>In 2001,</em>

Cyclical unemployment = 6% - 4.8% = 1.2%

From this, we can see that the actual unemployment was higher in 1990=1991 while the cyclical unemployment was higher in 2001

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3 years ago
Sarjit Systems sold software to a customer for $293,000. As part of the contract, Sarjit promises to provide "free" technical su
kakasveta [241]

Answer:

Dr Cash/ Accounts Receivables $249,050

Cr Revenue $249,050

Explanation:

The customer receives a discount for purchasing the bundle of goods because the sum of the stand-alone selling prices ($300,000) exceeds the promised consideration ($293,000). There is a discount of $7,0000

This would be split between the two performance obligations as follows

Technical support = $45,000/$300,000 X $7,000 = $1,050

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The software sale is $255,000 - $5,950 = $249,050

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Following is attached the solution for each part of the question.

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Prepare journal entries for the following credit card sales transactions.
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Answer and Explanation:

The journal entries are given below:

1. Cash A/c Dr $19,000

Credit card expense A/c Dr  $1,000            ($20,000 × 5%)

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Cost of goods sold A/c Dr $15,000

        To Merchandise inventory A/c $15,000

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2. Accounts receivable A/c Dr $4,800

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        To Sales A/c                             $5,000

(To record the merchandise is sold on credit)

Cost of goods sold A/c Dr $3,000

        To Merchandise inventory A/c $3,000

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6 0
3 years ago
(Land’s End) Geoff Gullo owns a small firm that manufactures "Gullo Sunglasses." He has the opportunity to sell a particular sea
Law Incorporation [45]

Answer:

Answer is explained in the explanation section below.

Explanation:

a)

Answer-a with option-1

the land end sale price is $100, purchase cost is $65 and salvege valu is $53

So the underage cost = Cu = 100-65 = 35 and overage cost = Co = 65-53 = 12

the critical ratio = Cu/(Cu+Co) = 35/47 = 0.7422

From the standard normal distribution function The Z value at 0.7422 = 0.66

The optimal order quantity = 200 + 0.66 x 125 = 282.5

The optimal order quantity = 282.5

b)

Answer-b with option-1

the land end sale price is $100, purchase cost is $55 and salvage value is $0

So the underage cost = Cu = 100-55 = 45 and overage cost = Co = 55-0 = 55

the critical ratio = Cu/(Cu+Co) = 45/100 = 0.45

From the standard normal distribution function The Z value at 0.45 = -0.12

the optimal order quantity = 200 - 0.12 x 125

The optimal order quantity = 185

c)

We have to calculate the expected profit in each case to determine which option Lands Ends should choose.

With option-1 Geoff's sells 282.5 units at $65 for total revenue of 18363 and production cost of 282.5 = 7063

Geoff credits Lands ends for each returned sunglass so we need to evaluate how many sunglasses Land Ends return.

Expected lost sales = 125 x 0.1528 = 19.1

Expected sales = 200 - 19.1 = 180.9

expected left over inventory = 282.5 - 180.9 = 101.6

Expected profit = (100-65) x 180.9 - (65-53)x 101.6 = 5112

Expected profit = 5112

Similarly with option 2 the Expected profit = 4053

So option-1 is preferred.

d)

If the Land chooses option-1 and orders 275 units Then Geoff earn = 275 x $65 = $17875

and production cost = $25 x 275 = $6875

With order quantity 275 the z statistics = 0.6

and expected lost sales = 125 x 0.6 = 21.09

Expected left over inventory = 275-200+21.09 = 96.09

So the Geoff's buy back cost = 96.09 x 53 = $5093

and expected profit = $17875 - $5093 = $5907

expected profit = $5907

7 0
3 years ago
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