Exhibit 20-1 working-age labor employed labor average annual population force force hours per employee 195 million 140 million 130 million 1,800 hours reference: ref 8-1 according to the data in exhibit 20-1, if economic conditions change such that the unemployment rate declines to 4.5 percent, what is the new value of aggregate hours? 211 billion hours per year 205 billion hours per year aggregate hours will be unaffected. 241 billion hours per year 220 billion hours per year

Lipman auto parts, a family-owned auto parts store, began january with $10,300.00 in cash. management forecasts that collections from credit customers will be $11,400.00 in january and $14,800.00 in february. the store is scheduled to receive $5,000.00 in cash on a business note receivable in january. projected cash payments include inventory purchases ($13,000.00 in january and $13,600.00 in february) and operating expenses ($2,700.00 each month). lipman auto parts' bank requires a $10,000.00 minimum balance in the store's checking account. at the end of any month when the account balance dips below $10,000.00, the bank automatically extends credit to the store in multiples of $1,000.00. lipman auto parts borrows as little as possible and pays back loans in quarterly installments of $2,000.00, plus 4 percent interest on the entire unpaid principal. the first payment occurs three months after the loan.