Answer:
<em>Zero</em>
Explanation:
There are three(3) types of unemployment recognized by economists;
<em>Structural unemployment:</em> This occurs where innovation and technological improvement render workers unemployable because their is a mismatch between the available jobs and the skills possessed by willing workers. For example, the introduction of online classes might reduce the number of teachers needed by a school.
<em>Frictional unemployment:</em> This is used to describe the number of people looking for jobs because they are transiting from one job to another.The addition of the structural and frictional is know as the <em>natural rate of of unemployment.</em>
<em>Cyclical unemployment</em><em>:</em><em> </em>this is caused by fluctuation in real GDP around the potentila GDP. For example, when the real GDP falls significantly for a sustained period of six month. At a time like this, the economy is contracting and it is evident by a negative growth rate in real output, firms do lay off workers because the business climate is not favorable.This is called <em>recession</em>. The cyclical unemployment is the difference between the actual rate of unemployment and natural rate. During recession, the actual is always greater thant the natural; and the balance is cyclical unemployement
<em>Full employment output and cyclical unemployment</em>
The potential GDP is the level of real GDP achieved where an economy has fully employed all of its resources ( land, labour, capital and entrepreneur). It is also called <em>full employment GDP</em>. An economy operating at its potential GDP level will still record some level of unemployment which is known as natural unemployment. And its actual rate of unemployment will be equal to the natural rate.
<em>In other words, at the full employment output level, the actual rate of unemployment is the same the natural rate of unemployement. So there is zero cyclical unemployment rate</em>
Answer:
50,400
Explanation:
Using application of total expectation, E;
N= Number of policy holders who have zero accidents in one month
P= Probability
N|Low = 400
N|High=600
P|Low=0.9
P|High=0.8
Therefore E = (N|Low*P|Low)+(N|High*P|High)
E=(400*0.9)+(600*0.8)
E=360+480
E=840
Then Total bonus for the year B
B= E*12*5
B=840*12*5
B=50,400
Answer:
$120
Explanation:
.4 x 300 = $120
the MPC (Marginal propensity to consume) is essentially the same as saying this is how much of your additional income to spend. In this case, you spend .4 of your additional income. Multiplying .4 by $300 in additional income results in $120
According to the research, the transfer of the right of recovery from the insured to the insurance company is called <u>Subrogation</u>.
<h3>What is s
ubrogation?</h3>
It consists of changing the debtor or the lender in a financing, which produces a delegation or a succession of duties.
It is linked to subrogating a legal or natural person for another, replacing it, modifying the contract in terms of fulfilling an obligation or exercising an attribution.
Therefore, we can conclude that according to the research, the transfer of the right of recovery from the insured to the insurance company is called <u>Subrogation</u>.
Learn more about Subrogation here: brainly.com/question/14632197
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In order for a shortage to be eliminated, the price must rise.