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aliya0001 [1]
3 years ago
9

Assign each of the following to the correct category: A full-time college studentmultiple choice 1 Employed Unemployed Not in th

e labor force An accountant working full timemultiple choice 2 Employed Unemployed Not in the labor force A web developer working 20 hours/weekmultiple choice 3 Employed Unemployed Not in the labor force A recently laid-off factory worker looking for a jobmultiple choice 4 Employed Unemployed Not in the labor force A stay-at-home parentmultiple choice 5 Employed Unemployed Not in the labor force A recent college graduate looking for a jobmultiple choice 6 Employed Unemployed Not in the labor force
Business
1 answer:
crimeas [40]3 years ago
3 0

Answer:

Assignment to the correct category:

1. A full-time college student  Not in the labor force

2. An accountant working full time  Employed

3. A web developer working 20 hours/week   Employed

4. A recently laid-off factory worker looking for a job  Unemployed

5. A stay-at-home parent  Not in the labor force

6. A recent college graduate looking for a job  Unemployed

Explanation:

An employed person is one who is actively engaged in a paid job.  Some unemployed persons are those who are actively seeking for jobs.  This implies that a person, who is not actively engaged in a paid job or actively seeking for a job, is not in the labor force.

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(1) When Average income (I) = $1500

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p = 54

q = 2p ⇒ 2 × 54 = 108

Hence, p and q are equilibrium price and equilibrium quantity, respectively.

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