Given the following information that includes all costs of the firm, we know that:Value of final sales$1,000Rent$200Compensation to employees$500Interest$500
A. income does not equal the value of final output.
B. profit is -$200.
C. there is a loss that must be subtracted from final sales so that income equals output.
D. profit is $200.
Answer: B
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The above figure shows supply and demand curves for apartment units in a large city. If the city government passes a law that establishes $450 per month as the legal maximum rent, consumer surplus will be
A) a. B) a + b + f. C) a + b + c. D) a + b + c + f + g.
In 2016 the Bureau of Labor Statistics reported that there were 57.1 million people over age 25 whose highest level of education was some college or an associate degree. Of these, 36.4 million were employed and 1.5 million were unemployed. What were the labor-force participation rate and the unemployment rate for this group?
a. 66.4% and 2.6% b. 66.4% and 4.0% c. 63.7% and 2.6% d. 63.7% and 4.0%
Occurs whenever the quantity supplied is less than the quantity demanded
What will be an ideal response?
In April 2000, the United States had a labor force of 141,230,000, employment of 135,706,000, and there were 67,986,000 people not in the labor force (all numbers rounded to the nearest 1000).(a)Calculate the unemployment rate.(b)Calculate the participation rate.(c)Calculate the employment ratio.
What will be an ideal response?