Find the unemployment rate for the nation

Assignment Help Business Economics
Reference no: EM131194476

The unemployment rate of western states is 5.2%, for eastern states it is 5.8%, for southern states it is 5.5%, and for Midwestern states it is 5.9%. The western states comprise 12% of the labor force, the eastern states comprise 21% of the labor force, the southern states comprise 30% of the labor force, and the midwestern states comprise the remainder of the labor force. Find the unemployment rate for the nation. (please round your answer to 2 decimal places)

Reference no: EM131194476

Questions Cloud

The inverse aggregate supply function for good : Suppose that the inverse aggregate supply function for a good is P^s(q) = 7 + 4q and the inverse aggregate demand function is P^d(q) = 214 - 5q. Suppose that the market for the good is perfectly competitive. Solve for the equilibrium price and quanti..
Management do to create enhanced productivity levels : As a member of the Board of Directors of General Motors Corporation, you are continually concerned about the level of productivity of the company's work force. What can management do to create enhanced productivity levels in order to maintain a profi..
What are the various causes or types of unemployment : What are the various causes/types of unemployment? What does it mean to be unemployed, i.e. what are the social, economic and political effects of unemployment? Should the government's number one goal be low unemployment and how' do unemployment and ..
Profit the dealership makes on selling an accord : Suppose that the profit a Honda dealership makes on selling an Accord is random and is given by the following probability distribution: 36% of the time the profit is 800, 26% of the time the profit is 1100; 18% of the time the profit is 1500; and oth..
Find the unemployment rate for the nation : The unemployment rate of western states is 5.2%, for eastern states it is 5.8%, for southern states it is 5.5%, and for Midwestern states it is 5.9%. The western states comprise 12% of the labor force, the eastern states comprise 21% of the labor for..
Unexpectedly pursues contractionary monetary policy : Suppose that the Fed unexpectedly pursues contractionary monetary policy. What will happen to unemployment in the short run? What will happen to unemployment in the long run? Justify your answer using the Phillips curve.
Depended on water supplied by federal projects : Water is the lifeblood of the American Southwest. Since the turn of the century, the growth of the West has depended on water supplied by federal projects such as dams, canals, and aqueducts. California's Imperial Valley, perhaps the richest agricult..
Monopoly power comes from market acceptance : Consider the statement, “Monopoly power comes from market acceptance, not from a patent, a prettier product, a slick advertising campaign, or anything else. So rather than spend your time in court, you should be out there drumming up business.” Do yo..
Congress imposed an excess profits tax : During the energy crisis of the 1970s, and again in the last 5 years, Congress bemoaned the “price gouging” and “windfall” profits of the major oil companies. In the 1970s Congress imposed an “excess profits tax” on these companies.

Reviews

Write a Review

Business Economics Questions & Answers

  What is this undesirable state of economy called

The US government has been involved in the Persian Gulf regions, in Iraq and in Afghanistan, in order not to let the terrorist groups take over and control the oil supplies and the shipments of oil to the rest of the world.

  Study of relationship between age-various visual functions

A study of the relationship between age and various visual functions (such as acuity and depth perception) reported the following observations on area of scleral lamina (mm2) from human optic nerve heads ( Morphometry of Nerve Fiber Bundle Pores in t..

  Explain why it is best interest of society treat differently

Explain why it is in the best interest of society to treat these types of property the same or differently.

  Private health insurance administration costs

Medicare administration costs are approximately $500 per year per person covered by Medicare. This is about 4.5% of the total annual health care expenses covered by Medicare. U.S. private health insurance administration costs are approximately $490 p..

  Research on recent actions on the part of federal reserve

Do some outside research on recent actions on the part of the Federal Reserve. The Fed is essentially responsible for monetary policy. Describe the functions of the Fed and why manipulation of the money supply has been such a prominent tactic over th..

  Find the first best level of effort and optimal contract

Moral Hazard. A worker can choose either high or low level of effort. The cost of high level is 1, the low level does not cost anything. If the agent chooses the high (low) level, principal gets π with probability pH (pL) and zero otherwise. Find the..

  Which your cousin attended a nearby elementary school

Rise in the price reduce the quantity demanded, assuming price elasticity remains constant along the demand curve.

  Discussed for global imbalances that arose

Which of the following is NOT a reason that we discussed for global imbalances that arose in the early 2000s and persist to some degree to this day?

  Level increases and real national output-employment increase

If aggregate demand increases and as a result the price level increases and real national output and employment increases we can assume that: A decrease in aggregate demand in Keynesian range of aggregate supply will tend to:

  Von neumann morgenstern axioms

The consumer is indifferent between B and a lottery ticket with probabilities. Construct a set of von Neumann - Morgenstern utility numbers for the four situations.

  Determine how much the consumption of this good

Suppose the own price elasticity of demand for good X is -3, its income elasticity is 1, its advertising elasticity is 2, and the cross-price elasticity of demand between it and good Y is -4. Determine how much the consumption of this good will chang..

  What is the marginal cost of the last bucking bronco.

Write the print f C Code which will display the output with three spaces preceding it. Illustrate what is the marginal cost of the last bucking bronco produced.

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