Based on the criteria used by the bureau of labor statistics

Assignment Help Business Economics
Reference no: EM13896605

Consider a small economy composed of six people: Eric, Ginny, Kenji, Lucia, Sharon, and Paolo. Each person's employment status is described in the following table.

Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person’s status as Employed, Unemployed, “Not in the labor force” if not in the civilian labor force but still part of the adult population, or “Not in the adult population” if not in the civilian adult population.

Below For status choose between (Employed, Not in adult population, Not in labor force, Unemployed)

Person Status

Eric is a 47-year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job but was given only 3 hours of work.

Ginny is a 36-year-old autoworker who was just laid off by her employer. She is trying to find any kind of job to help make ends meet.

Kenji is a 35-year-old graphic designer who is taking 2 years off from work   to care for his small daughter.

Sharon is a 26-year-old who lost her job as a copy editor for a local newspaper. She has spent the past few weeks out of work and interviewing for other editing jobs. She is thinking about going back to grad school if her job search doesn't succeed after a few more weeks.

Paolo is a 17-year-old who just graduated from high school. He is taking it easy this summer, relaxing by the pool with his friends and family, and volunteering part-time at the local nursing home.

Lucia is a 11-year-old student at West Valley Middle School. She baby-sits her younger sister and does other chores for which her parents give her an allowance of $30 per week.

Reference no: EM13896605

Questions Cloud

When an economy is under autarky the price of eggplant : When an economy is under autarky the price of eggplant is $5. The world price of eggplant is $3.50. If opened to the world market, would consumers or producers benefit? Would consumers or producers lose? Explain your reasoning (using a graph would be..
In what ways does the krugman model of trade differ : In what ways does the Krugman model of trade differ from the Heckscher-Ohlin model of trade? In what ways does the Linder theory of trade differ from the Heckscher-Ohlin model of trade?
What features of the product cycle theory : What features of the product cycle theory are at variance with the assumptions of the Heckscher-Ohlin model? How might the imitation lag hypothesis be incorporated into the product cycle theory?
Explain why trash collection on campus is provided : Explain why trash collection on campus is provided by the University, instead of by individual students and faculty members.
Based on the criteria used by the bureau of labor statistics : Consider a small economy composed of six people: Eric, Ginny, Kenji, Lucia, Sharon, and Paolo. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person’s status as Employed, Unemployed, “Not in the labor force” if not ..
Increase mongolias rate of economic growth : How might freeing up dead capital have helped to increase Mongolia’s rate of economic growth? What type of investment would foreign residents undertake if they were to purchase a small fraction of the shares of stocks owned by Mongolia’s residents?
Who pays the tax-graphical model with interpretation : Who pays the tax: Graphical model with interpretation? Then the mathematical model solution with interpretation: compare P1 with P2 with P1 + tax
How the level of well-being in country has changed over time : Which of the following best measures how the level of well-being in a country has changed over time?
Experienced diminishing marginal utility : Describe when you have experienced diminishing marginal utility. Also discuss opportunity costs you have had to pay in order to attend school

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd