Number of unemployed .

Question

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Answer 1

Question

Chapter 15, Problem 1CQQ

To determine

Number of unemployed.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

The person who is not currently at work but who has actively worked during the previous month is referred to as unemployed. Therefore, the number of unemployed is 10. Thus, option “a” is correct.

Option (b):

Here 40 peoples are full-time workers, 20 people work half-time but are referred to full-time workers, 10 are looking for a job,10 would like to work but are so discouraged that they have given up looking for a job, 10 are not interested in working because they are full-time students and 10 are retired. From this category, the number of people who are looking for job (10) is the number of unemployed from the total population of 100. Thus, option “b” is incorrect.

Option (c):

From different category of people according to their employment status, it is found that 10 people are unemployed. Thus, option “c” is incorrect.

Option (d):

40 peoples are included in full-time working category and only 10 peoples are considered to be the unemployed. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Unemployed: In government statistics, a person who is not currently at work but is available to do work and has actively worked during the previous month is referred to as unemployed.

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16:10 ← BEC 3701 - Assignments-... KWAME NKRUMAH UNIVERSITY TEACHING FOR EXCELLENCE SCHOOL OF BUSINESS STUDIES DEPARTMENT OF ECONOMICS AND FINANCE ADVANCED MICRO-ECONOMICS (BEC 3701) Assignments INSTRUCTIONS: Check instructions below: LTE 1) Let u(q1,q2) = ln q₁ + q2 be the (direct) utility function, where q₁ and q2the two goods. Denote P₁ and P2 as the prices of those two goods and let M be per period money income. Derive each of the following: a) the ordinary or Marshallian demand functions q₁ = d₂ (P₁, P₂, M) for i = 1,2 [3 Marks] b) the compensated or Hicksian demand functions q₁ = h₂ (P₁, P2, M) for i = 1,2 [3 Marks] c) the Indirect Utility Function uº = v(P₁, P2, M) [3 Marks] d) the Expenditure Function E(P1, P2, U°) [3 Marks] e) Draw a diagram of the solution. There should be two graphs, one above the other; the first containing the indifference curves and budget constraint that characterize the solution to the consumer's choice problem; the second characterizing the demand…

Answer 2

Question

Chapter 15, Problem 1CQQ

To determine

Number of unemployed.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

The person who is not currently at work but who has actively worked during the previous month is referred to as unemployed. Therefore, the number of unemployed is 10. Thus, option “a” is correct.

Option (b):

Here 40 peoples are full-time workers, 20 people work half-time but are referred to full-time workers, 10 are looking for a job,10 would like to work but are so discouraged that they have given up looking for a job, 10 are not interested in working because they are full-time students and 10 are retired. From this category, the number of people who are looking for job (10) is the number of unemployed from the total population of 100. Thus, option “b” is incorrect.

Option (c):

From different category of people according to their employment status, it is found that 10 people are unemployed. Thus, option “c” is incorrect.

Option (d):

40 peoples are included in full-time working category and only 10 peoples are considered to be the unemployed. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Unemployed: In government statistics, a person who is not currently at work but is available to do work and has actively worked during the previous month is referred to as unemployed.

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Answer 3

Question

Chapter 15, Problem 1CQQ

To determine

Number of unemployed.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

The person who is not currently at work but who has actively worked during the previous month is referred to as unemployed. Therefore, the number of unemployed is 10. Thus, option “a” is correct.

Option (b):

Here 40 peoples are full-time workers, 20 people work half-time but are referred to full-time workers, 10 are looking for a job,10 would like to work but are so discouraged that they have given up looking for a job, 10 are not interested in working because they are full-time students and 10 are retired. From this category, the number of people who are looking for job (10) is the number of unemployed from the total population of 100. Thus, option “b” is incorrect.

Option (c):

From different category of people according to their employment status, it is found that 10 people are unemployed. Thus, option “c” is incorrect.

Option (d):

40 peoples are included in full-time working category and only 10 peoples are considered to be the unemployed. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Unemployed: In government statistics, a person who is not currently at work but is available to do work and has actively worked during the previous month is referred to as unemployed.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 15, Problem 1CQQ

To determine

Number of unemployed.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

The person who is not currently at work but who has actively worked during the previous month is referred to as unemployed. Therefore, the number of unemployed is 10. Thus, option “a” is correct.

Option (b):

Here 40 peoples are full-time workers, 20 people work half-time but are referred to full-time workers, 10 are looking for a job,10 would like to work but are so discouraged that they have given up looking for a job, 10 are not interested in working because they are full-time students and 10 are retired. From this category, the number of people who are looking for job (10) is the number of unemployed from the total population of 100. Thus, option “b” is incorrect.

Option (c):

From different category of people according to their employment status, it is found that 10 people are unemployed. Thus, option “c” is incorrect.

Option (d):

40 peoples are included in full-time working category and only 10 peoples are considered to be the unemployed. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Unemployed: In government statistics, a person who is not currently at work but is available to do work and has actively worked during the previous month is referred to as unemployed.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 15, Problem 1CQQ

To determine

Number of unemployed.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

The person who is not currently at work but who has actively worked during the previous month is referred to as unemployed. Therefore, the number of unemployed is 10. Thus, option “a” is correct.

Option (b):

Here 40 peoples are full-time workers, 20 people work half-time but are referred to full-time workers, 10 are looking for a job,10 would like to work but are so discouraged that they have given up looking for a job, 10 are not interested in working because they are full-time students and 10 are retired. From this category, the number of people who are looking for job (10) is the number of unemployed from the total population of 100. Thus, option “b” is incorrect.

Option (c):

From different category of people according to their employment status, it is found that 10 people are unemployed. Thus, option “c” is incorrect.

Option (d):

40 peoples are included in full-time working category and only 10 peoples are considered to be the unemployed. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Unemployed: In government statistics, a person who is not currently at work but is available to do work and has actively worked during the previous month is referred to as unemployed.

Answer 6

Chapter 15, Problem 1CQQ

To determine

Number of unemployed.

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Explanation of Solution

Option (a):

The person who is not currently at work but who has actively worked during the previous month is referred to as unemployed. Therefore, the number of unemployed is 10. Thus, option “a” is correct.

Option (b):

Here 40 peoples are full-time workers, 20 people work half-time but are referred to full-time workers, 10 are looking for a job,10 would like to work but are so discouraged that they have given up looking for a job, 10 are not interested in working because they are full-time students and 10 are retired. From this category, the number of people who are looking for job (10) is the number of unemployed from the total population of 100. Thus, option “b” is incorrect.

Option (c):

From different category of people according to their employment status, it is found that 10 people are unemployed. Thus, option “c” is incorrect.

Option (d):

40 peoples are included in full-time working category and only 10 peoples are considered to be the unemployed. Thus, option “d” is incorrect.

Economics Concept Introduction

Concept introduction:

Unemployed: In government statistics, a person who is not currently at work but is available to do work and has actively worked during the previous month is referred to as unemployed.

Answer 7

Chapter 15, Problem 1CQQ

To determine

Number of unemployed.

Answer 8

Expert Solution & Answer

Answer to Problem 1CQQ

Option “a” is correct.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

Option (a):

The person who is not currently at work but who has actively worked during the previous month is referred to as unemployed. Therefore, the number of unemployed is 10. Thus, option “a” is correct.

Option (b):

Here 40 peoples are full-time workers, 20 people work half-time but are referred to full-time workers, 10 are looking for a job,10 would like to work but are so discouraged that they have given up looking for a job, 10 are not interested in working because they are full-time students and 10 are retired. From this category, the number of people who are looking for job (10) is the number of unemployed from the total population of 100. Thus, option “b” is incorrect.

Option (c):

From different category of people according to their employment status, it is found that 10 people are unemployed. Thus, option “c” is incorrect.

Option (d):

40 peoples are included in full-time working category and only 10 peoples are considered to be the unemployed. Thus, option “d” is incorrect.

Answer 12

Economics Concept Introduction

Concept introduction:

Unemployed: In government statistics, a person who is not currently at work but is available to do work and has actively worked during the previous month is referred to as unemployed.

Answer 13

Ch. 15.1 - Prob. 1QQ Ch. 15.2 - Prob. 2QQ Ch. 15.3 - Prob. 3QQ Ch. 15.4 - Prob. 4QQ Ch. 15.5 - Prob. 5QQ Ch. 15 - Prob. 1CQQ Ch. 15 - Prob. 2CQQ Ch. 15 - Prob. 3CQQ Ch. 15 - Prob. 4CQQ Ch. 15 - Prob. 5CQQ

Number of unemployed .

Number of unemployed.

Answer to Problem 1CQQ

Explanation of Solution

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Chapter 15 Solutions