Assume the following data for a country   in millions T…

Assume the following data for a country   in millions Total Population 500 Population under 16 or  institutionalized 120 Not in the labor force 150 Unemployed 23 Part-time workers looking for full-time jobs 10 a) What is the size of the labor force? What is the official unemployment rate?  (show work) (4) b)  Assume that those that are not in the labor force declines to 100 and the number of unemployed increases to 50  (all other numbers stay the same). What is the size of the labor force now?  What is the unemployment rate?  show work(4) c)  Explain how “good news” about the future of the economy can actually cause the unemployment rate to increase?  (3) d) If you were running for political office, would you want to promote reducing the unemployment rate OR promote increasing the labor force?  Explain using ideas from chapter 8 & 9.

A firm produces output according to the following production…

A firm produces output according to the following production function: q  =  2 L1/2  +  4 K1/2 The price of labor is w = 20, the price of capital is r = 20 and there is a set-up cost F = 1,000 that the firm only pays if it decides to produce in the market. If the firm wants to produce ‘q’ units of output, solve the cost minimization problem. Obtain total cost C* (as a function of output level q). If the firm wants to produce 60 units of output, determine how much it will cost the firm.

A firm produces output according to the following production…

A firm produces output according to the following production function: q  =  2 L1/2  +  4 K1/2 The price of labor is w = 20, the price of capital is r = 20 and there is a set-up cost F = 1,000 that the firm only pays if it decides to produce in the market. If the firm wants to produce ‘q’ units of output, solve the cost minimization problem. Obtain total cost C* (as a function of output level q). Now assume that the firm operates under monopoly and the inverse demand function is p = 120 – 5 q Use the solution to the cost minimization problem to solve the profit maximization problem of this firm. Then do the following: Determine the Lerner Index for this market.

Refer to Figure 3.  This figure shows two different examples…

Refer to Figure 3.  This figure shows two different examples of SYNOVIAL HINGE type joints. Identify which of these two articulations is more distal. Name this joint, including its label from the figure, and name the bones that form this articulation, including their specific numbers from the figure.