Business College

Scenario 28-1 Suppose that the Bureau of Labor Statistics reports that the entire adult population of Mankiwland can be categorized as follows: 25 million people employed, 3 million people unemployed, 1 million discouraged workers, and 1 million people who are either students, homemakers, retirees, or other people not seeking employment. Refer to Scenario 28-1. What is the unemployment rate?

Answers

Answer 1

Answer:

10.7%

Explanation:

Solution:

Recall that:

The Reports from Bureau of labor statistics is shown as follows:

Employed people = 25 million

Unemployed people = 3 million

Discouraged workers = 1 million

Workers or Homemakers or retirees, or students = 1 million

The next step from this scenario is to find out the unemployment rate

Now,

The rate of unemployed =  (unemployed x 100 ) / labor force

= 300/28

=10.7%

Related Questions

Brownley Company has two service departments and two operating (production) departments. The Payroll Department services all three of the other departments in proportion to the number of employees in each. The Maintenance Department costs are allocated to the two operating departments in proportion to the floor space used by each. Listed below are the operating data for the current period: Service Depts. Production Depts. Payroll Maintenance Cutting Assembly Direct costs $ 20,400 $ 25,500 $ 76,500 $ 105,400 No. of personnel 15 15 45 Sq. ft. of space 10,000 15,000 The total cost of operating the Maintenance Department for the current period is:

Answers

Answer:

The total cost of operating the Maintenance Department for the current period is $29,580

Explanation:

In order to calculate The total cost of operating the Maintenance Department for the current period we would have to calculate first the Overhead allocated to Maintenance from Payroll department as follows:

Overhead allocated=Payroll overhead×(Maintenance payroll personnel/Total personnel)

Overhead allocated=$ 20,400×(15/15+15+45)

Overhead allocated=$4,080

Therefore, to calculate the The total cost of operating the Maintenance Department for the current period we would have to use the following formula:

Total cost of operating Maintenance Department=Overhead allocated+Direct overhead incurred

Total cost of operating Maintenance Department=$4,080+$25,500

Total cost of operating Maintenance Department=$29,580

The total cost of operating the Maintenance Department for the current period is $29,580

Which of the following statement(s) is(are) true regarding municipal bonds? I) A municipal bond is a debt obligation issued by state or local governments. II) A municipal bond is a debt obligation issued by the federal government. III) The interest income from a municipal bond is exempt from federal income taxation. IV) The interest income from a municipal bond is exempt from state and local taxation in the issuing state.

Answers

Answer:

I, III and IV Only.

Explanation:

A municipal bond is explained to be a debt obligation issued by a nonprofit organization, a private-sector corporation or another public entity using the loan for public projects such as constructing schools, hospitals and highways.

A municipal bond is categorized based on the source of its interest payments and principal repayments. A bond can be structured in different ways offering various benefits, risks and tax treatments. Income generated by a municipal bond may be taxable.

Answer: I) A municipal bond is a debt obligation issued by state or local governments.

III) The interest income from a municipal bond is exempt from federal income taxation.

IV) The interest income from a municipal bond is exempt from state and local taxation in the issuing state.

Explanation:

A municipal bond is usually a debt security issued by a state, or local government to finance its capital expenditures, which usually includes the construction of Roads, Bridges or Institutions( schools ). They can be considered as loans that an investor gives to local governments. This kind of bonds are exempted from federal taxes and most state and local taxes, Which makes them very attractive to interested individuals who are on high income tax brackets.

Byron Books Inc. recently reported $6 million of net income. Its EBIT was $12.6 million, and its tax rate was 40%. What was its interest expense? [Hint: Write out the headings for an income statement, and then fill in the known values. Then divide $6 million of net income by (1 - T) = 0.6 to find the pretax income. The difference between EBIT and taxable income must be interest expense. Use this same procedure to complete similar problems.] Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. Do not round intermediate calculations.

Answers

Answer:

he35

Explanation:

h

Other Questions
Why was the 14th Amendment necessary, after the Civil Rights Act of1866? * (13 6)^2 (5 + 2)^2(5 2)^3 The Democratic-Republicans supported all of the following principles EXCEPT ___________.A.increased power to the statesB.a weak central governmentC.a loose interpretation of the ConstitutionD.opposition the Federalist agenda g(t) = 6t - 1g ( ) = -7 If you save $3,000 at an interest rate of 14 percent per year, how much will you have at the end of six years? The interest should be compounded. A. $5,805.96 B. $6,502.34 C. $6,584.91 What was the result of the 1st, 2nd, 3rd, and 4th crusade? Why did the Aztecs and the Inca suffer more from smallpox than the Spanish did? I'm lookin for a son or a sis who wants to be it??? Please help ASAP! I will mark Brainliest! Please answer CORRECTLY! No guessing! The senior class at Snellville rented and filled 12 vans and 14 buses with 796 students. General High rented and filled 14 vans and 12 buses with 738 students. How many students would fill 2 buses and 3 vans? Please help with question off algebra nation j+ 12 =25 find the solution to equation algebtaically Find the area of the shaded regions:The pink is the shaded region. General who only supported war as a means to achieve peaceCivil war help quick!!!!????? What is respiration? Read this excerpt from a speech.I was enjoying a great afternoon at Meadowlark Park last week, and then an unfortunate event occurred. I was riding my skateboard in the parking lot, trying a new trick. I think most of you can imagine this, because I have seen you out there doing the same thing. Anyway, I was crossing an empty part of the lot, gaining speed, when a county employee appeared. He said there is a new rule forbidding skateboarding in the parking lot, and official signs would be posted next week.What line reveals the speakers efforts to relate to the audience?A.I was enjoying a great afternoon at Meadowlark Park last week, and then an unfortunate event occurred.B.I think most of you can imagine this, because I have seen you out there doing the same thing.C. Anyway, I was crossing an empty part of the lot, gaining speed, when a county employee appeared.D. He said there is a new rule forbidding skateboarding in the parking lot, and official signs would be posted next week. i think of a number multiply it by 3 and subract 2 . The result is 14 The diagram shows the field lines near the poles, X and Y, of two magnets.At left a rectangular box with the long horizontal side labeled X. At right a rectangular box with the long horizontal side labeled Y. There is a gap between the boxes. Curved lines with arrowheads emerge from the right end of X and the left end of Y and point up and down.Based on the field lines, what are the poles of the magnets?X: northY: southX: southY: northX: northY: northX: southY: south There is a unique positive real number x such that the three numbers log82x, log4x and log2x, in that order, form a geometric progression with a positive common ratio. The number x can be written as m/n, where m and n are relatively prime positive integers. Find m+n.