Answered: If the GDP of Norway is $360 billion…

If the GDP of Norway is $360 billion and that of Belgium is $236 billion; Calculate the number of labor hours worked for a year in Norway . YOU SHOULD SHOW THE FORMULA AND ALL CALCULATION AS WELL.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Similar questions

Consider a small island country whose only industry is fishing. The following table shows information about the small economy in two different years. Complete the table by calculating physical capital per worker as well as labor productivity. Year Physical Capital (Fishing poles) Labor Force (Workers) Physical Capital per Worker (Fishing poles) Labor Hours (Hours) Output (Fish) Labor Productivity (Fish per hour of labor) 2016 160 40 2,000 20,000 2017 180 60 3,900 29,250 Based on your calculations, (a. an increase, b. a decrease) in physical capital per worker from 2016 to 2017 is associated with (a. an increase, b. a decrease) in labor productivity from 2016 to 2017. Suppose you're in charge of establishing economic policy for this small island country. Which of the following policies would lead to greater productivity in the fishing industry? Check all that apply. ___ Subsidizing research and development into new…
Use the labour market information given below to answer the following questions: * Total opulation = 10 milliol Working - a * ge population = 7.5 million Labour force = 6 million Unemployed = 1 million Calculate the number of individuals (in millions) not in the labour force. a) 2.5 b) 1 c) 1.5 d ) 4.0
Can you answer the first 2 questions please Thanks!
Don’t solve it in excel please. q.n(4)
Suppose the Tasty Taco Company produces tacos. The number of tacos it can produce each hour depends on the number of workers it hires, as shown in the accompanying table. In addition, each taco can be sold for 50 cents more than the cost of the ingredients needed to produce it. Number of workers per hour Number of tacosper hour 0 0 1 25 2 45 3 60 4 70 5 75 What is the value of the marginal product of the fourth worker hired each hour? Select one: a. $5 b. $35 c. $10 d. $70
The manager of a crew that installs carpeting has tracked the crew’s output over the past severalweeks, obtaining these figures:Week Crew Size Yards Installed1 4 962 3 723 4 924 2 505 3 696 2 52Compute the labor productivity for each of the weeks. On the basis of your calculations, what canyou conclude about crew size and productivity?
Q- ABC Company produces 10,000 units per month. The unit is sold in the market for $2. The labor costs the company $5,000 per month. The material to produce the required quantity costs them $1,000. The overhead cost for the company is $3,000. Calculate the multifactor productivity for the company.
Y5
12
Answer
= Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,200 tires per day with the following resources: 400 hours per day @ $12.50 per hour 20,000 pounds per day @ $1.00 per pound $5,250 per day $10,250 per day a) Labor productivity per labor hour for these tires = Labor: Raw Material: Energy: Capital: tires/labor hour (round your response to two decimal places). a
This year, Druehl, Inc., will produce 57,600 hot water heaters at its plant in Delaware, in order to meet expected global demand. To accomplish this, each laborer at the plant will work 200 hours per month. If the labor productivity at the plant is 0.25 hot water heaters per labor hour, how many laborers are employed at the plant? ttempt Number of laborers employed by the plant = laborers (round your answer to the nearest whole number).