Population - 50,000
Employed - 45,000
Students not looking for work - 1,000
To calculate Boone's unemployment rate you'll use the formula:
Unemployment rate = number of people unemployed / labor force
Those that fall into the unemployment category are those that are not working but are actively looking/wanting to work. Students, stay-at-home moms etc that are not wanting to work, though unemployed, to not fall into this category.
The labor force is made up of everyone willing and able to work.
First, let's subtract the students who are not looking for work from the population so get the labor force. 50,000 - 1,000 = 49,000 (labor force)
Next, to get the number of people unemployed let us subtract the labor force of 49,000 by those already employed of 45,000. 49,000 - 45,000 = 4,000
Finally, we are able to calculate the unemployment rate of Boone.
Unemployment rate = number of people unemployed / labor force
Unemployment rate = 4,000/49,000= .081 multiply by 100 to get the percentage. 8.1%
Unemployment rate of Boone is 8.1%
Answer:
The answer is: A) is the sum of all individual demand curves.
Explanation:
By definition the market curve is the sum of all individual demand curves in a market. It shows the total quantity of goods that consumers demand (are willing and able to purchase) at varying price points. Usually the curve shows a downward slope since consumer demand decreases as the price of a good increases.
Answer:
Consider the market in which clothing producers operate. Suppose productivity decreases in the factory producing jeans. Explain how this event will change the quantity of jeans supplied and the supply of jeans today.
The quantity of jeans supplied decreases.
Explanation:
Since there is decrease in the production of jeans, hence; supply of jeans will be drastically decreased.
Answer:
economies of scale
Explanation:
Economies of scale are the result of increasing returns to scale, this means that the higher the output, the lower the production costs per unit. This means that large producers will have an advantage over smaller producers which will eventually allow them to make more profits and sell at lower prices. After a while, only large producers that are able to manufacture goods at a low price will exist, e.g. car manufacturers.
Answer:
$12,000 for 2013 and $300,000 for 2018
Explanation:
Jamison Enterprises acquired a franchise to operate a Good Burger Joint in January, 2013. The cost of the franchise was $360,000 and was estimated to have a limited life of 30 years.
Hence the yearly franchise cost at this point is 360,00 / 30 years = $12,000
Early in the year 2018, the franchise was forced out of business due to lawsuits.
At this point the company had only operated for 5 years and have incurred franchise cost to date of 5 years x $12,000 = $60,000
Jamison should record $300,000 ($360,000 - $60,000 to date) balance of the franchise cost in its expenses to their income statement for the years 2018
