Anderson, Q 2-2 OL-620

The accompanying table shows how total donations, average donations, total labor costs, and average labor costs vary depending on the number of employees State U hires for its fundraising activities: Number of Employees Total DonationsAverage Donations Total Labor CostsAverage Labor Costs 1 2 $ 30,000 42,426 $ 8,000 3 $ 17,321 $ 17,000 27,000 4 60,000 9,500 5 13,416 50,000 The net benefit of hiring fundraisers is largest when employees are hired. Select one: a. 1 b. 2 c. 3 d. 4

Economics The Raleigh City Council has just voted to levy a sizable per-garage-space tax on single family homes, arguing that garages, and especially multi- car garages, are an excellent indicator of the earnings of the residents. Why would the City want to impose such a tax? What are some potential problems with this tax? What changes in single- family homes might you predict if the new tax is implemented? And what changes in the amount of home building might you expect relative to Chapel Hill or Durham?

Bonnie works one hour a week but looks every day for full time work. Roger quit his job now he spends all his time writing poems and reading them to his ex-girlfriend. Angelina quit her job at a fast food restaurant and is now trying to get a job selling houseboats. Dwain used to repair steam ships but has lost his job when the steam ship repair company he worked for went out of business do to no one needing steam ships anymore and has been unable to find work. Henry works forty hours a week cleaning chimneys but does not like the work and is looking for a job cleaning basements. Edwin is a bear tamer but is looking for work during the winter months because it is hibernation season for bears - Who is seasonably unemployed? -State which individual or individuals would be considered unemployed -State the four types of unemployment

5. In Chapter 9 of your text, complete Exercise #3 found on page 321. Suppose that you observe that the wages for accountants in your town have gone up and that the number of accountants employed has also gone up. Which one of the following conditions could explain this? Illustrate your answer with a graph and explain in a brief paragraph. a) Businesses are failing, reducing the need for accountants. b) Many accountants are leaving the field in order to train to become financial analysts instead. c) A rash of business scandals has increased the demand for auditing services performed by accountants. d) The local university has just graduated an unusually large group of accountants.

Complete the following table      Labor   Marginal Product   Quantity Produced   Fixed Cost   Variable Cost   Total Cost   Marginal Cost   Average Total Cost   Average Variable Cost (workers) (units) (units) (dollars) (dollars) (dollars) (dollars) (dollars) (dollars) 1   0 $50 $0         2   10 $50 $20         3   25 $50 $40         4   45 $50 $60         5   60 $50 $80         6   70 $50 $100

Use the table to answer the question.