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Author Question: The unemployment rate is 6 percent. If the population is 300 million, and the number unemployed is 6 ... (Read 46 times)

Chelseaamend

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on: Jun 29, 2018
The unemployment rate is 6 percent. If the population is 300 million, and the number unemployed is 6 million and the number employed is 94 million, what is the size of the labor force?
 
  What will be an ideal response?

Question 2

A firm is producing the profit-maximizing amount of output when it is producing where its ________ curve intersects its ________ curve.
 
  A) MC; MR
  B) MC; AVC
  C) MC; ATC
  D) MC; TR


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scikid

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The labor force is the sum of the number of employed people plus the number of unemployed people. Hence the labor force equals 94 million + 6 million = 100 million.

Answer to Question 2

A


Chelseaamend

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

Kedrick2014

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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