FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lets assume that when the labor markets are in equilibrium, there are 165 million workers working. Does this mean that everyone in the labor force

Let’s assume that when the labor markets are in equilibrium, there are 165 million workers working. Does this mean that everyone in the labor force (100%) is working and that the unemployment rate is zero? (A labor supply and demand diagram might be helpful in your explanation.)

Step by Step Solution

★★★★★

3.53 Rating (160 Votes )

There are 3 Steps involved in it

Step: 1

No assuming 165 million workers working at equilibrium in the labor market does not necessarily mean everyone in the labor force is working or that th... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Principles of Economics

Modern Principles of Economics

Authors: Tyler Cowen, Alex Tabarrok

3rd edition

1429278390, 978-1429278416, 1429278412, 978-1429278393

More Books

Students also viewed these Economics questions

Question

★★★★★
Lets start off by working out a few examples to illustrate the lure of the cartel. To keep it simple on the supply side, well assume that fixed costs are zero so marginal cost equals average cost....

Answered: 1 week ago

Question

★★★★★
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Answered: 1 week ago

Question

★★★★★
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...

Answered: 1 week ago

Question

★★★★★
In 2020-21, a taxpayer makes a number of disposals, as listed below. Which of these disposals would be exempt from CGT? (a) An antique table sold for 5,000. (b) A watercolour painting sold at...

Answered: 1 week ago

Question

★★★★★
Conglomo Corporation is considering investing in other smaller companies, and it can purchase any fraction of each company. Each investment by Conglomo requires a partial payment now and a final...

Answered: 1 week ago

Question

★★★★★
The following information was drawn from the accounting records of Wyckoff Company as of December 31, 2018, before the temporary accounts had been closed. The Cash balance was $3,600, and Notes...

Answered: 1 week ago

Question

★★★★★
Distinguish between the manifest and latent content of dreams.

Answered: 1 week ago

Question

★★★★★
Review each of the following independent sets of conditions. Required: Use AICPA sample size tables to identify the appropriate sample size for use in a statistical sampling application (ROO 5 risk...

Answered: 1 week ago

Question

★★★★★
Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement: In an effort to...

Answered: 1 week ago

Question

★★★★★
Music-Is-Us, Inc., is a supplier of musical instruments for professional and amateur musicians. The companys accountants make adjusting entries monthly, and they make all closing entries annually....

Answered: 1 week ago

Question

★★★★★
Why is the bolded answer correct? Capital Goods Origin Consumer Goods 9. On the production possibilities curve above, if the unemployment rate decreases from 10% to 5%, the economy will: A. remain on...

Answered: 1 week ago

Question

★★★★★
What is the recommended way of importing multiple secrets into the HashiCorp Vault? Inline, with the '-' at the end of the put Importing a JSON file with the @ operator Redirecting a JSON file as...

Answered: 1 week ago

Question

★★★★★
Multi Enterprises Ltd. is a Canadian-controlled private corporation whose fiscal period coincides with the calendar year. For the year 2021, the company's taxable income was calculated as follows:...

Answered: 1 week ago

Question

★★★★★
statements. The adjusted trial balance amounts at June 30 are shown below. Cash Accounts Receivable Prepaid Rent Supplies Equipment Dividends Debit Credit $ 6,700 Accumulated Depreciation-Equipment $...

Answered: 1 week ago

Question

★★★★★
3. Suppose each person in a large statistics class (enrollment 1000 students) rolls a die 60 times and counts the number of times they roll an ace (one dot). (a) For each person, the total number of...

Answered: 1 week ago

Question

★★★★★
Grand Corporation reported pretax book income of $805,000. Tax depreciation exceeded book depreciation by $535,000. In addition, the company received $330,000 of tax-exempt municipal bond interest....

Answered: 1 week ago

Question

★★★★★
Question Help Kluver Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017, it budgeted to manufacture and sell 3,100 tires at a variable cost of $73 per tire and...

Answered: 1 week ago

Question

★★★★★
Using the theoretical sampling strategy, how many samples of size 4 (n = 4) can be drawn from a population of size: (a) N = 5? (b) N = 8? (c) N = 16? (d) N = 50?

Answered: 1 week ago

Question

★★★★★
a. Once again: Why does the chapter say that elasticity 5 escape? (This is worth remembering: Elasticity is one of the toughest ideas for most economics students.) b. Which two groups of workers did...

Answered: 1 week ago

Question

★★★★★
Lets work out a simple example where a person smoothes her consumption over time. Gwen is a real estate agent, and she knows that she will have some good years and some bad years. She figures that...

Answered: 1 week ago

Question

★★★★★
Before the rise of affordable automobiles and subways, many people used trolleyssmall trains on rails that ran along ordinary streetsto get around in urban areas. On trolleys, there is a literal free...

Answered: 1 week ago

Question

★★★★★
Given the fact that the expected value of an F variable with vi and v2 degrees of freedom is equal to v2/\(V2 2), for v2 > 2, prove that the variance of a t variable with v degrees of freedom is v/...

Answered: 1 week ago

Question

★★★★★
Social psychology emphasizes the influence of situations on behavior. People often find it difficult to see the role that powerful situations can play in producing their own and others' behavior and...

Answered: 1 week ago

Question

★★★★★
Use critical thinking tools to assess information received from a variety of sources.

Answered: 1 week ago

Previous Question Next Question