BUSINESS COLLEGE

The Bureau of Labor Statistics announced that in January 2013, of all adult Americans, 143,322,000 were employed, 12,332,000 were unemployed, and 89,008,000 were not in the labor force. Use this information to calculate: a. the adult population b. the labor force c. the labor-force participation rate d. the unemployment rate

Answers

Answer 1
Answer:

Answer:

a. 244,662,000

b. 155,654,000

c. 63.62%

d. 7.92%

Explanation:

a. the adult population

Adult population = Number of employed + Number of unemployed + Number of people not included in labor force

= 143,322,000 + 12,332,000 + 89,008,000

= 244,662,000

b. the labor force

Labor force = Number of employed + Number of unemployed

= 143,322,000 + 12,332,000

= 155,654,000

c. the labor-force participation rate

Labor-force participation rate = Labor force ÷ Adult population × 100

= 155,654,000 ÷ 244,662,000 × 100

= 63.62%

d. the unemployment rate

Unemployment rate = Number of unemployed ÷ Labor force × 100

= 12,332,000 ÷ 155,654,000 × 100

= 7.92%
Answer 2
Answer:

The Bureau of Labour Statistics announced is:

  • A. The adult population is 244,662,000
  • B. the labour force is155,654,000
  • C. the labor-force participation rate is 63.62%
  • D. the unemployment rate is 7.92%

A. The adult population = Employed + Unemployed + Not in the labour force

The adult population = 143,322,000 + 12,332,000 + 89,008,000

The adult population = 244,662,000

B. The labour force = Employed + Unemployed

The labour force = 143,322,000 + 12,332,000

The labour force = 155,654,000

C. The labor-force participation rate = (Labour force / Adult population) × 100

The labor-force participation rate = 155,654,000 ÷ 244,662,000 × 100

The labor-force participation rate = 63.62%

D. The unemployment rate = Number of unemployed ÷ Labour force × 100

The unemployment rate = 12,332,000 ÷ 155,654,000 × 100

The unemployment rate = 7.92%

Therefore, a. 244,662,000, b. 155,654,000, c. 63.62%, d. 7.92%

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Monica has found that her contribution margin per hour of time for her highest selling product is $2,500. She wants to dedicate an extra 40 hours a month to this product, but she needs to know the increase in total contribution margin if she does this. The product generally sells for $100 a unit. What would be the increase in total contribution margin for this product

Answers

Answer:

The correct answer is $100,000.

Explanation:

According to the scenario, the given data are as follows:

Contribution margin  = $2,500 per hour

Extra time = 40 hours

Selling price = $100 per unit

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Answers

Answer:

In year 1 the warranty expense reported is $450 ($9,000 x 5%)

Explanation:

The journal entries would be:

Sales journal entry - August 16 - Year 1

Account                          Debit             Credit

Cash                                $9,000

Cost of goods sold         $4,500

Revenue                                               $9,000

Inventory                                              $4,500

Accrued Warranty Expense - December 31 - Year 1

Account                         Debit               Credit

Warranty Expense        $450

Estimated Warranty

Liability                                                    $450

By the end of Year 1, the company has recognized an accrued expense (an accrued expense is recognized before cash is actually paid out) for $450.

Under which one of the following business organizations do the owners have unlimited liability for all debts of the firm?(A) partnership
(B) limited partnership
(C) corporation
(D) subchapter S corporation

Answers

Answer:

(A) partnership

Explanation:

In a partnership every partner  has unlimited liability for all of the debts.  There is a ver important difference with sole propietor's, any member of the partnership is responsible for debts of the business, even if the person had no responsability with the creation of the debts.

An investment offers to double your money in 30 months (don’t believe it). What rate per six months are you being offered? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Answers

Answer:

The rate of change in 6 months is 14.87%

Explanation:

Let a be the amount that the money is multiplied in one month. We know that in 30 months it is multiplied by 2, so if we power a by 30 wew obtain 2:

a³⁰ = 2

Thus, 2 = a³⁰ = a⁶*⁵ = (a⁶)⁵

(here we use the propiety a^bc = (a^b)^c = (a^c)^b)

We can conclude that a⁶ = 2^(1/5) = 1.1487

The rate in 6 months is (1.1487-1)*100 = 14.87%

Answer:

14.86% every 6 months

Explanation:

Let the original amount be a

An investment offers to double your money in 30 months i.e. 2a in 30 months

Fv = Pv (1 + x)ⁿ

Fv future value (i.e. future value of the cash flow after a particular time period. )

Pv Present value

x interest

n number of compounding period

Fv = Pv (1 + x)ⁿ

2a = a (1 + x)^(30/6)

2^(1/5)= 1 + x

1.1486 = 1 + x

x = 0.1486 0r 14.86%

Workers and management agree on a contract that gives a 5% wage increase for each of the next three years. Everyone expected 3% inflation but inflation turned out to be 5% per year. Then at the end of three years... a. real wages will be higher than was expected.

b. real wages will have fallen

c. nominal and real wages will have changed by the same percentage.

d. real wages will be lower than was expected.

Answers

Answer:

The correct option is (d)

Explanation:

Real wages are nominal wages less inflation. Nominal wage is not adjusted for inflation. Everyone had expected an inflation of 3% per year while increase in wages per year is 5%. This implied that they will expect real wage of 2% (5% - 3%) per year.

However, it turned out that inflation was 5% per year. This means that real wages were actually 0% (5% - 5%). There was no increase in real wages at all. So, they received lower real wage (actually nil) as against expected real wage of 3% per year.

If the potential customers belong to the same segment, display comparable characteristics, and choose the same product qualities consistent with their segment, then which condition for the ideal market segment approach should be used

Answers

Answer: internally homogenous

Explanation:

Since the potential customers belong to the same segment, display comparable characteristics, and choose the same product qualities that are consistent with their segment, then the condition for the ideal market segment approach which should be used is the internally homogeneous.

On the other hand, if the potential customers are in different segments, have different characteristics, and choose different product qualities, then the externally homogeneous will be ideal.

internally homogenous
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