User Account

All Pages

What is the size of the labor force in the united states

Assignment Help Business Economics
Reference no: EM131405524

Part A) Suppose nominal GDP in 2012 was $200 billion, and in 2014, it was $210 billion. The general price index in 2012 was 100 and in 2014 it was 105. Between 2012 and 2014, the real GDP rose by what percent? (20 points)

(Part B) Use the following scenario to answer the questions (Part B1) and (Part B2).

In a given year in the United States, the total number of residents is 150 million, the number of residents under the age of 16 is 38 million, the number of institutionalized adults is 15 million, the number of adults who are not looking for work is 17 million, and the number of unemployed is 4 million.

(Part B1) Refer to the data in the above scenario. What is the size of the labor force in the United States for the given year?

(Part B2) Refer to the data in the above scenario. What is the unemployment rate in the United States for the given year?

Reference no: EM131405524

Questions Cloud

What is smart perimeter mapping : You are the warden of a new maximum security prison and would like to have smart perimeters installed, but the state is in the middle of cut backs on the budget. You must write a proposal to the state legislature and explain the following : What s..
Contrast differences between stock dividend and stock split : From the e-Activity, contrast the differences between a stock dividend and a stock split. Imagine that you are a stockholder in a company.
Export subsidy in place : Draw a diagram of the small-country market for sugar under free trade, and with the export subsidy in place.
What would he or she prepare for the criminal investigator : Discuss the role and responsibility of the first officer on the scene before the investigators arrive.What would he or she prepare for the criminal investigator?
What is the size of the labor force in the united states : (Part B1) Refer to the data in the above scenario. What is the size of the labor force in the United States for the given year? (Part B2) Refer to the data in the above scenario. What is the unemployment rate in the United States for the given year?
Comment on the credibility of the suppliers claim : The supplier claims that no more than 2% of the items in the shipment are defective. Carry out an appropriate hypothesis test and comment on the credibility of the supplier's claim.
Should we reject the directors claim : In a sample of 300 persons to whom materials were sent, 30 students applied for admission. In a two-tail test at the 0.05 level of significance, should we reject the director's claim?
Calculate the price elasticity of demand : For every 100 cars using the toll roads in 2012, 120 cars will use the toll roads in 2016. (Part A) Using the midpoint formula, calculate the price elasticity of demand for Scenario 1 and Scenario 2.
Is the human resources directors claim credible : In a random sample of 400 employees, screening detected at least one of these drugs in the systems of 8% of those tested. At the 0.025 level, is the human resources director's claim credible? Determine and interpret the p-value for the test.

Reviews

Write a Review

Business Economics Questions & Answers

  The price elasticity of demand and total revenue

Explain the relationship between the price elasticity of demand and total revenue. What are the impacts of various forms of elasticities (elastic, inelastic, unit elastic, etc.) on business decisions and strategies to maximize profit? Explain using e..

  Three investment opportunities available for period

Linda inherited a sum of $50,000 from one of her grandparents. She would like to wisely invest the inheritance in one of the following three investment opportunities available for a period of 10 years. Help choose the best investment opportunity for ..

  An economy has a cobb–douglas production function

An economy has a Cobb–Douglas production function: Y = Kα(LE) 1−α. The economy has a capital share of a third, a saving rate of 24 percent, a depreciation rate of 3 percent, a rate of population growth of 2 percent, and a rate of labor-augmenting tec..

  Conudct masonary and general contracting business

C.E. Stumpf & sons, Inc., was formed to conudct a masonary and general contracting business. the corporation waso owned in equal shares by Stumpf and his two sons, who had previously operated the same business as partners. He brought suit seeking inv..

  Regarding the expenditure multiplier effect

Participate in a discussion with your classmates regarding the expenditure multiplier effect within your local community, state, or region which magnifies or multiplies expenditures that increase the real GD. Discuss an event in your home city or sta..

  Faced with business competition on a global scale

Chevron Corporation is one of the largest integrated oil companies in the world. Its management is assessing the world marketplace and taking steps to sustain the company’s competitive position. Faced with business competition on a global scale, Chev..

  Use notations ln and log interchangeably

Suppose a demand function is given by x(p). Then, elasticity of demand at p is -p d/dx logx(p). Using this, compute the elasticity of demand when x(p) = ap^-b, where a, b are positive constants. (We use notations ln and log interchangeably).

  Economic profits-normal profits and accounting profits

Suppose that you leave a job that pays $40,000/year and use $10,000 of your savings that had been earning $500/year in interest in order to start your own business. In your business, you sell 450 units at $60/unit while paying $12,000 for capital cos..

  Ben laden is considering an attempt to differentiate

Ben Laden is considering an attempt to differentiate his product from several other competitors by using high quality natural herb dyes.

  How much profit will the firm make if it maximizes profit

The production function is given by f(x)=4x^1/2. If the price of a commodity produced is $60 per unit and the cost of the input is $20 per unit, how much profit will the firm make if it maximizes profit?

  Domestic subsidy to enable an industry

A domestic subsidy to enable an industry to compete against imports:

  Market experiences future demand

A water utility for a growing city is considering expanding their capacity by investing in a larger system of wells. Their long-run marginal cost of water provision is characterized by the function MC(q) = 5 + (2/3)(q) (q is in thousands of gallons)...

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd