Solved

A Province's Ministry of Social Services Has Found That Both

Question 226

Short Answer

A province's Ministry of Social Services has found that both the number of people receiving social assistance and the province's total expenditures on social assistance are proportional to the rate of unemployment. Last August when the provincial unemployment rate was 8.4%, the province provided benefits to 89,300 individuals at a cost of $107.4 million. The forecasted unemployment rate for next August is 7.9%. How many people can the province expect to need social assistance next August? What amount should the province budget for social assistance in August?

Correct Answer:

verifed

Verified

Expenditures = $101....

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents