Am. 300. Perfect Population Projections Incorporated (PPP) has entered into a contract with the city of Popular, Pennsylvania, to project thefuture population of the city. In recent years, Popular has become a desirable place to live and work, as indicated by the below table.TotalTotalBasicYear Population Employment Employment201950,00025,0006,250202026,500202120222023202453,00057,00065,00070,00028,50032,50035,00026,6257,1258,1258,7509,000.NonbasicEmployment18,75019,87521,37524,37526,250*Estimated from surveys.Required:The contract states that PPP must project Popular's population for the year 2024 using an economic base analysis. The ratio ofpopulation to total employment is 2.0833.Note: Do not round intermediate calculations. Round your final answers to the nearest whole number.Your help is needed!Total population using economic base analysisTotal employment using economic base analysisTotal Nonbasic employment using economic base analysisYear 202075,00036,00027,000

Projected popular population refers to the estimated or forecasted population of the city of…

Perfect Population Projections Incorporated (PPP) has entered into a contract with the city of Popular, Pennsylvania, to project the future population of the city. In recent years, Popular has become a desirable place to live and work, as indicated by the below table. Total Total Basic Year Population Employment Employment 2019 50,000 25,000 6,250 53,000 26,500 6,625 28,500 7,125 8,125 8,750 9,000 2020 2021 57,000 65,000 70,000 Nonbasic Employment 18,750 19,875 21,375 24,375 26,250 2022 2023 2024 *Estimated from surveys. Required: The contract states that PPP must proiect Popular's opulation for the year 2024 using 32,500 35,000

Perfect Population Projections Incorporated (PPP) has entered into a contract with the city of Popular, Pennsylvania, to project the future population of the city. In recent years, Popular has become a desirable place to live and work, as indicated by the below table. Total Total Basic Year Population Employment Employment 2019 50,000 25,000 6,250 53,000 26,500 6,625 28,500 7,125 8,125 8,750 9,000 2020 2021 57,000 65,000 70,000 Nonbasic Employment 18,750 19,875 21,375 24,375 26,250 2022 2023 2024 *Estimated from surveys. Required: The contract states that PPP must proiect Popular's opulation for the year 2024 using 32,500 35,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Am. 300.

Perfect Population Projections Incorporated (PPP) has entered into a contract with the city of Popular, Pennsylvania, to project the
future population of the city. In recent years, Popular has become a desirable place to live and work, as indicated by the below table.
Total
Total
Basic
Year Population Employment Employment
2019
50,000
25,000
6,250
2020
26,500
2021
2022
2023
2024
53,000
57,000
65,000
70,000
28,500
32,500
35,000
2
6,625
7,125
8,125
8,750
9,000.
Nonbasic
Employment
18,750
19,875
21,375
24,375
26,250
*Estimated from surveys.
Required:
The contract states that PPP must project Popular's population for the year 2024 using an economic base analysis. The ratio of
population to total employment is 2.0833.
Note: Do not round intermediate calculations. Round your final answers to the nearest whole number.
Your help is needed!
Total population using economic base analysis
Total employment using economic base analysis
Total Nonbasic employment using economic base analysis
Year 2020
75,000
36,000
27,000

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