Nancy Kirkwood runs a small job shop where garments are made. The job shop employs 8 workers. During the first week of March, each worker worked 45 hours. Together, they produced a batch of 132 garments. Of these garments, 52 were "seconds" (meaning that they were flawed). The seconds were sold for $90 each at a factory outlet store.

Nancy Kirkwood runs a small job shop where garments are made. The job shop employs 8 workers. During the first week of March, each worker worked 45 hours. Together, they produced a batch of 132 garments. Of these garments, 52 were "seconds" (meaning that they were flawed). The seconds were sold for $90 each at a factory outlet store.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 11RQ: If you an? out of school but working part time, are you considered employed or unemployed in U.S....

See similar textbooks

Similar questions

Workers are compensated by firms with benefits in addition to wages and salaries. The most prominent offered by many firms is health insurance. Suppose that in 2000, workers at one steel plant were paid $30 per hour and in addition received health benefits at the rate of $6 per hour. Also suppose that by 2010 workers at that plant were paid $31.50 per hour but received $13.5 in heakth insurance benefits. a. By what precentage did total compensation (wages plus benefits ) change at this plant from 2000 to 2010? Total compensation increased or decreased by________ percent? What was the approximate average annual percentage change in total compensation? b. By what percetage did wages change at this plant from 2000 to 2010? Wages increased or decreased by ______percent? What was the approximate average annual percentage in wages? c. If workers value a dollar of heath benefits as much as they value a dollar of wages, by what total percentage will they feel their incomes have risen over…
In 1972 the maximum earnings of a worker subject to Social Security tax (SST) was $9,000. The maximum earnings subject to SST in 2016 is $118,500. Whatcompound annual increase has been experienced over this 44-year period of time? How does it compare with a 3% annual increase in the consumer price index over the same period of time?
17. help pls pls asap
14% of working age adults are out of the labor force. What could be the real percent of adults who want to work and are not working? a) 14% b) 19% c) 10% d) All of these could be true e) None of these could be true
In which ⍺=5
Education: Does College Pay Off? It is costly in both time and money to go to college.Does it pay off? According to the Bureau of the Census, the answer is yes. The averageannual income (in thousands of dollars) of a household headed by a person with thestated education level is as follows: 24.3 if ninth grade is the highest level achieved.41.4 forhigh school graduates. 59.7 for those holding associate degrees, 82.7 for thosewith bachelor's degrees, 100.8 for those with master’s degrees, and 121.6 for thosewith doctoral degrees. Make a bar graph showing household income for eacheducation level
Out of 571 employees interviewed, 17% said they thought about work while on vacation. How many people thought about work?
Workers Bracelets MPLMPL 0 0 --- 1 7 7 2 * 28 3 53 18 4 * 6 5 * 0 Betsy's Bangles produces and sells woven bracelets. The table shows information about the number of workers employed, daily bracelet production, and the marginal product of labor (MPL)(MPL) . Use this to answer the questions. You must calculate the bracelet values that are absent to answer the question. How many bracelets can be produced by 5 workers? bracelets from 5 workers: braceletsbracelets Between which levels of bracelet production does Betsy's firm experience increasing marginal returns and diminishing marginal returns? a. There is insufficient information to answer the question. b. Marginal returns increase from 0 to 7 bracelets then diminish from 35 to 59 bracelets. c. Marginal returns increase from 35 to 59 bracelets then diminish from 59 to 59 bracelets. d. Marginal returns increase from 0 to 35 bracelets, then diminish from 53 to 59 bracelets.
Why does substitution bias arise if we calculate the inflation rate based on a fixed basket of goods?
If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?
Edna is living in a retirement home where home where most of her needs are taken care of, but she has some discretionary spending. Based on the basket of goods in Table 22.5, by what percentage does Ednas cost of living increase between time 1 and time 2
Year 2000 2010 Price of an automobile $40, 000 $50, 000 Price of a loaf bread $20 $30 Number of ao=utomobiles produced 100 cars 120 cars Number of loaves of bread produced 600,000 loaves 500, 000 loaves Using the table above calculate: how much have prices risen between the year 2000 and 2010 and comapre the answer given by Laspeyres and Passche price indices