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The US Bureau of Labor Statistics reports the most recent seasonally adjusted monthly statistics for the nation, which are listed below.
Population: 209,543,000
labor force(Employed and Unemployed): 140,757,000
not in labor force: 68,786,000
employed: 135,183,000
Unemployed(not employed but looking for work): 5,574,000
Use the data to calculate the following questions:
a. Calculate labor force size (# of people in labor force) and labor force participation rate (LFPR).
b. Calculate employment population ratio (EPR) and unemployment rate (UR).
Stadium has commissioned a study that showed the demand by fans for stadium seats (per playing date) to be P = 22 - 0.2Q, where P is the price of a ticket and Q represents the number of seats (expressed in thousands). The local stadium seats a maximu..
Provide the time series plot. Identify the time series characteristics. Explain. Assuming no cyclical pattern, provide the best regression model for each data series. Run the regression model using E-views. Explain the validity of the model.
Assume the demand function for basketballs is given by QD = 150 −3P + 0.1I, where P = price of a basketball, and I = average income of consumers. Also, assume the supply of basketballs is given by QS = 2P. If the market for basketballs is perfectly c..
Despite the frequency and cost of data security breaches, why do you think some companies do not consider securing customer data as high a priority as other risks to their data systems operations?
Illustrate what is the relation between marginal benefit and marginal cost at this level of the control variable.
the world price of coffee rose about 100%. What was the approximate price elasticity of demand for coffee? was the demand elastic or inelastic?
What suggestions do you have for marketers on how to avoid "over marketing" their product brand names to the point that they negatively impact consumer perceptions? Support your response with some examples, both positive and negative.
Suppose a company demands function is Qd=220-5p a. At what quantity is the company total revenue maximized? b. What is the company's maximum total revenue? c. what is the company marginal revenue when its total revenue is maximized? d.What is the com..
Why do you suppose that some publishers are selling space for advertisements in their e-books-and sometimes even in physical books? From an economic standpoint, how could we explain the willingness of someone to pay $19.99 for a physical book that is..
Suppose Janet sells papayas at a perfectly competive market in Tailand. While her average total caost reaches a minimum level of 43 her minimum average variable cost is $2. At what price will Janet reach the equilibrium level Will she sell any papaya..
Some people argue that intense partisan competition forces each side to be a watchdog for the other, thereby achieving stability and balance. Others argue that this highly partisan environment leads to a paralysis in policymaking and detracts from ta..
Cost-push inflation can be called
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