Business, 28.07.2019 03:30 coollid876

Suppose the town of boone has a total population of 50,000 people. of those, 46,000 people are employed. there are 2,000 full-time students who are not employed or actively seeking work. the rest of the people are out of work but have been actively seeking work within the past four weeks.

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Population - 50,000Employed - 46,000Students not looking for work - 2,000
To calculate Boone's unemployment rate you'll use the formula: Unemployment rate = number of people unemployed / labor force
Those that fall into the unemployment category are those that are not working but are actively looking/wanting to work. Students, stay-at-home moms etc that are not wanting to work, though unemployed, to not fall into this category.
The labor force is made up of everyone willing and able to work.
First, let's subtract the students who are not looking for work from the population so get the labor force. 50,000 - 2,000 = 48,000 (labor force)
Next, to get the number of people unemployed let us subtract the labor force of 48,000 by those already employed of 46,000. 48,000 - 46,000 = 2,000
Finally, we are able to calculate the unemployment rate of Boone. Unemployment rate = number of people unemployed / labor forceUnemployment rate = 2,000/48,000= .042 multiply by 100 to get the percentage. 4.2%Unemployment rate of Boone is 4.2%

Answer from: Quest

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

Answer from: Quest

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Suppose the town of boone has a total population of 50,000 people. of those, 46,000 people are emplo...