Fill in the missing values in the table of data collected in the household survey for November, 2009. The working-age population, employment, unemployment, and labor force are measured in thousands. Show your work
Working-age population 235,900
Employment
Unemployment
Unemployment rate 9.4%
Labor force
Labor force participation rate 65.5%
What will be an ideal response?
Working-age population 235,900
Employment 139,991
Unemployment 14,524
Unemployment rate 9.4%
Labor force 154,515
Labor force participation rate 65.5%
Labor force participation rate = × 100.
Labor force = (Working-age population × Labor force participation rate)/100
Labor force = (235,900 × 65.5)/100 = 154,515
Unemployment rate = × 100.
Unemployed = (Labor force × Unemployment rate)/100
(154,515 × 9.4)/100 = 14,524
Labor force = Employed + Unemployed
Employed = Labor force - Unemployed
Employed = 154,515 - 14,524 = 139,991
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A) segmented markets theory B) expectations theory C) liquidity premium theory D) separable markets theory
Suppose a price-taking firm produces 400 units at its optimal output level. At that output rate marginal cost is $200, average total cost is $240, and average variable cost is $170 . What can you determine about the market price that would force the firm to shut down in the short run?
a. It equals $200. b. It is between $170 and $240. c. It is less than $170. d. It is between $170 and $200. e. It equals $240.