4.1 Each person's employment status is described in the following table. Based on the criteria used...

Transcribed Image Text:

4.1 Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), indicate each person's status as Employed (E), Unemployed (U), "Not in the labor force" if not in the labor force but still part of the (civilian, noninstitutionalized) adult population (NLF), or "Not in the (civilian, noninstitutionalized) adult population" if not in the (civilian, noninstitutionalized) adult population (NAP) in status column. PERSON Joshua is a 22-year-old professional basketball player. When he's not competing, he works as a coach at a local club. Mona is a 36-year-old who lost her job as an editor for a local newspaper. She is thinking about going back to grad school if her job search doesn't succeed after a few more weeks. Khan is a 17-year-old who just graduated from high school. He is taking it easy this summer, relaxing by the pool, and volunteering part-time at the local nursing home. Chow is a 29-year-old former gang member who is currently serving a prison sentence for armed robbery. Richard is a 70-year-old retired professor. He enjoys volunteering at the local public library. Catherine is a 52-year-old baker who just laid off. She is trying to find any kind of job to help make ends meet. 4.2 Bob and Sue Stewart live in Oakland, CA. Sue's father, Tom, lives in UK. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (EX), imports (IM) or not recorded (NR). Check all that apply. Transaction CIG EX IM NR The Federal Aviation Administration expands the runways at Oakland International Airport, which is just a few miles from Bob and Sue's house. Tom orders a bottle of California made maple syrup from the producer's website. Sue gets new furniture made in the United States. Sue buys a new BMW, which was assembled in Germany. Bob's employer upgrades all its computer systems using U.S.-made parts. Bob and Sue purchase two cups of coffee while visiting Tom in UK. Sue's employer, Oaklife Cosmetics, US company, builds a new factory in Portland. STATUS Tom and his friend purchase a Warriors Game ticket while visiting Bay Area. Bob's employer buys a full-page advertisement in the SF Chronicle. Bob and Sue buy a vacation home, built in the 1978 in Lake County. 4.3 Labor demand is Ld=20-1.5(w) and Labor supply is Ls=0.5(w), find an equilibrium wage. 4.1 Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), indicate each person's status as Employed (E), Unemployed (U), "Not in the labor force" if not in the labor force but still part of the (civilian, noninstitutionalized) adult population (NLF), or "Not in the (civilian, noninstitutionalized) adult population" if not in the (civilian, noninstitutionalized) adult population (NAP) in status column. PERSON Joshua is a 22-year-old professional basketball player. When he's not competing, he works as a coach at a local club. Mona is a 36-year-old who lost her job as an editor for a local newspaper. She is thinking about going back to grad school if her job search doesn't succeed after a few more weeks. Khan is a 17-year-old who just graduated from high school. He is taking it easy this summer, relaxing by the pool, and volunteering part-time at the local nursing home. Chow is a 29-year-old former gang member who is currently serving a prison sentence for armed robbery. Richard is a 70-year-old retired professor. He enjoys volunteering at the local public library. Catherine is a 52-year-old baker who just laid off. She is trying to find any kind of job to help make ends meet. 4.2 Bob and Sue Stewart live in Oakland, CA. Sue's father, Tom, lives in UK. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (EX), imports (IM) or not recorded (NR). Check all that apply. Transaction CIG EX IM NR The Federal Aviation Administration expands the runways at Oakland International Airport, which is just a few miles from Bob and Sue's house. Tom orders a bottle of California made maple syrup from the producer's website. Sue gets new furniture made in the United States. Sue buys a new BMW, which was assembled in Germany. Bob's employer upgrades all its computer systems using U.S.-made parts. Bob and Sue purchase two cups of coffee while visiting Tom in UK. Sue's employer, Oaklife Cosmetics, US company, builds a new factory in Portland. STATUS Tom and his friend purchase a Warriors Game ticket while visiting Bay Area. Bob's employer buys a full-page advertisement in the SF Chronicle. Bob and Sue buy a vacation home, built in the 1978 in Lake County. 4.3 Labor demand is Ld=20-1.5(w) and Labor supply is Ls=0.5(w), find an equilibrium wage.

Answer rating: 100% (QA)

or step 31 based on the given information the employment status for each person is Joshua E Employed ... View the full answer