Refer to the table below: If the average U.S. worker produces $60,000 of output

Question

Refer to the table below:

If the average U.S. worker produces $60,000 of output per year, what is the annual opportunity cost of the federal regulatory workforce?

     Agency Number of Employees (2011)    SOCIAL REGULATION    Consumer safety and Health 39,037   . Food and Drug Administration (FDA)    . Food Safety and Inspection Service, etc.    Homeland Security 150,201    . Transportation Security Administration (TSA)    . Customs and Border security    . Immigration and Customs, etc.    Transportation 9,863    . Federal Aviation Administration (FAA)    . Federal Motor Carriers Safety Administration    . Federal Railroad Administration, etc.    Workplace 12,351    . Occupational safety and Health Administration (OSHA)    . Mine Safety and Health Administration    . Employment standards Administration, etc.    Environment 26,900    . Environmental protection Agency (EPA)    . Forest and Rangeland Research    . Fish and Wildlife Service, etc    Energy 4,064    . Nuclear Regulatory Agency, etc    ECONOMIC REGULATION    General Business 17,517    . Patent and Trademark office    . Securities and Exchange Commission (SEC)    . Federal Trade Commission (FTC), etc.    Finance and Banking 14,985    . Federal Reserve System    . Federal Deposit insurance Corporation (FDIC)    . Comptroller of the Currency, etc    Industry-Specific Regulation 6,914    . Agricultural Marketing Service    . Federal Communications (FCC), etc.                  Total Regulatory Employment: 281,832

Explanation / Answer

Take the $60,000 and multiple by Employment (281,832) to get your answer.

60,000 X 281,832 = 1.69

Answer is: $16.9 billion

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.