TeamAssigment3_Summary

Question 13 In the context of intergenerational inequality, regression toward the mean is captured by which of the following? the tendency for the 90-50 wage gap to approach the 50-10 wage gap as a country experiences economic growth the tendency for the tax code to erode inequality by targeting the mean tax rate to mean income the tendency for our the tendency for income differences across families to get smaller over time as the various families move toward the mean income of the population the tendency for inequality to be wider as a country experiences economic growth

Case study 1.6: Factor substitution in the National Health Service  The National Health Service (NHS) in the UK was founded in 1948 and was the first state-run free health service in the world. It originated at a time of national euphoria following victory in World War II, which generated a sense of confidence and solidarity among politicians and public. In particular it was felt that class distinctions were finally disappearing. The extensive rationing of products, both during and after the war, played a big part. Not only did this result in queuing for goods by rich and poor alike, but it gave the government a sense that state control of distribution was not only possible but in many cases desirable. The basic objective was to provide all people with free medical, dental and nursing care. It was a highly ambitious scheme that rested on various premises that have since proved flawed. These were: 1 The demand for health care was finite; it was assumed that some given amount of…

The following graph shows the labor market in the fast-food industry in the fictional town of Supersize City. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool (? Market for Labor in the Fast Food Industry 20 I Wage (Dollars per hour) 18 Supply 18 Labor Demanded (Thousands of workers) Labor Supplied (Thousands of workers) 900 378 14 12 10 Demand 2 90 180 270 380 450 540 630 720 810 900 LABOR (Thousands of workers) In this market, the eqilibrium hourly wage is S and the equilibrium quantity of labor is thousand workers. Suppose a senator introduces a bill to legislate a minimum hourly wage of $6. This type of price control is called a WAGE (Dollars per hour)

Question 2: Migration                                                                                      In labour economics, we are often interested in migration of workers from one geographical region to another. Suppose we divide a hypothetical country Econland into three regions (R): R1, R2, R3. We can find the proportion of the workers of those three regions who put or migrate to another region. For instance, p12 = proportion of the workers in region 2 that move to region while p33 is the proportion of workers in region 3 who do not migrate to any of the two other regions. We can denote these transition proportions by pij , i, j = 1, 2, 3 and can state these proportions of workers that stay put or migrate to another region in terms of the transition matrix P =[p11 p12 p13      p21 p22 p23      p31 p32 p33] Suppose the number of workers in these regions in millions at a point in time t is denoted by (xti) and presented in the vector xt =[xt1…

rdcdn.com/blackboard.learn.xythos.prod/5a25b62cdb9cf/5497575?X-Blackboard-Expiration=1631804400000&X-Bla 2/ 4 100% Directions: Write below whether each factor will increase or decrease demand for the market listed, what determinant of demand caused the increase and decrease and show the demand curve shift on the graph. Determinant and Change Increase or Decrease: Graph Scenario 9. Market: Paper towels this month Scenario: Prices of paper towels are expected to rise in the future. TRIBE: 10. Market: Cheese this month Increase or Decrease: P. Scenario: Prices are expected to fall next TRIBE: month. 11. Market: Pancake market Increase or Decrease: Scenario: Prices of syrup increase. D Q TRIBE: 12. Market: Ketchup market Increase or Decrease: Scenario: Prices of hot dogs decrease TRIBE: D 13. Market: Almond milk Increase or Decrease: P Scenario: Price of dairy milk inereases TRIBE: 14. Market: Almond butter Increase or Decrease: Scenario: Price of peanut butter decreases TRIBE: 15. Market:…

(5).

(6) What does efficiency-wage theory suggest as an alternative to this decision of wage and/or headcount reduction?

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3) Over the past year, total factor productivity (TFP) grew 0.025, capital grew 1.5%, and labor grew 0.015. If the elasticities of output with respect to capital and labor add to 1, how much did output grow? (The growth rate of output is the sum of i) the growth rate of TFP, ii) the product of capital's share of output and capital growth, and iii) the product of labor's share of output times labor growth.) A) 1% B) 2% C) 3% D) 4% E) 5%

You are a brand analyst working for a large multinational retail organisation in South Africa. The organisation specialises in premium products. You have been provided with the following statement: “According to the World Bank, South Africa remains a dual economy with one of the highest inequality rates in the world, with a Gini Coefficient of 0.643.”  The Board of Directors convened a special meeting to discuss the implications of the quote above. You are required to produce a brief on the statement above, specifically referring to the implications it holds for the brand      Explain the implications of a Gini Coefficient of 0.643 relating to the South African economy, retail sector and brand of the organisation. Derive practical examples from the Lorenz curve to substantiate your explanation.

Suppose that education is the only factor that affects productivity and that an additional year of education raises wages by 2%.   Suppose in 2011 gender wage gap was 13%, and the average man had 15 years of education while the average women had 14 years of schooling.  a) Using the wage gap decomposition technique, calculate how much of the 13% wage differential is due to discrimination? b) Now suppose in 2021 the gender wage gap is 10%, but the average woman’s education level is increased to 17 year and the average man’s education increases to16 years. (Assume that the return to education stays same at 2%), Was there a decrease or an increase in wage discrimination in the decade?  Why?

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Suppose that 15 states decrease the length of the standard work week from 40 to 35 hours. You are interested in the effects of this change on worker productivity. What effects might you expect to see? How would you conduct a difference-in-difference analysis to estimate the impact? What assumption must hold for the difference-in-difference analysis to be valid?

Suppose that a labor economist performs a statistical analysis on economywide worker wages using standard, measurable explanatory factors, such as job characteristics, years of schooling, and so forth. How much of the variation in worker wages can be accounted for by such measurable explanatory factors? Somewhat more than 60% Nearly 100% Somewhat less than 50% About 0% Which of the following factors are typically omitted from the quantitative analysis of wages but can help explain otherwise unaccounted-for disparities? Check all that apply. Chance Attractiveness Natural ability Effort Race O O O O

Consider Special City that manufactures light fixtures that are sold around the world. Draw their base case Labor Market graph. Now assume there is a national shortage of glass that Special City manufacturers use to create their light fixtures. Show what would be the effect on your Labor Market graph. Lastly, assume the manufacturers change their manufacturing process to use less glass but inadvertently create a very noticeable increase in the smog levels that makes it hard to breathe. Show another variation to reflect the change in your labor market graph, be sure to indicate the effects of the changes on for each of these market changes or combine the graphs, just be sure the changes and new equilibria are legible:

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Q33 In order to maximize profits, a firm needs to determine the quantity of each factor that it will employ, which is dictated by price as well as productivity of the factor. Assume farmer in the Ottawa area named Justin Trudeau has fixed amounts of land and capital and finds that total product is 24 for the first worker hired, 32 when two workers are hired, 37 when three are hired, and 40 when four are hired. Justin Trudeau product sells for $3 per unit, and the wage rate is $13 per worker. The marginal product of the second worker is Multiple Choice   32   14.   8   1   5

G.R. Dry Foods Distributors specializes in the wholesale distribution of dry goods, such as rice and dry beans. The firm’s manager is concerned about an article he read in this morning’s The Wall Street Journal indicating that the incomes of individuals in the lowest income bracket are expected to increase by 10 percent over the next year. While the manager is pleased to see this group of individuals doing well, he is concerned about the impact this will have on G.R. Dry Foods.What do you think is likely to happen to the price of the products G.R. Dry Foods sells? Why? The price will increase, because dry beans and rice are normal goods. The price will increase, because dry beans and rice are inferior goods. The price will decrease, because dry beans and rice are inferior goods. The price will decrease, because dry beans and rice are normal goods.

Question 1 of1 The number of people who want to be professional athletes greatly outnumbers the amount of positions available. Does this represent a surplus in the labor market for professional athletes? +100 9:41 PM 36°F 12/3/2021 近

MCQ 1 Consider a competitive labour market in which the current equilibrium wage is £10 per hour. If the government imposes a minimum wage of £8 per hour, in this market we would expect to observe: A a fall in the wage and an increase in the demand for labour a rise in the wage and a fall in the demand for labour C a rise in the wage, but the change in the demand for labour can't be detemined from the information provided D no change in the wage and no change in the demand for labour a fall in the wage, but the change in the demand for labour can't be determined from the information provided I do not want to answer this question. B

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In a developed country, a significant percentage of the working- age population has some form of disability. The government has implemented policies to increase labor market participation among people with disabilities, including workplace accommodations, anti-discrimination laws, and vocational training programs. However, the employment rate for people with disabilities remains lower than for those without disabilities, leading to economic and social implications. The question is: In this scenario, the government's policies primarily aim to: A) Increase economic dependence among people with disabilities B) Reduce labor force participation C) Enhance labor market inclusion and economic independence for people with disabilities D) Segregate the workforce based on disability status

If Macroland had the following information   200 - Employed Workers  100 - Not working, but still looking for a job 100 - Students not looking for a job 100 - Retired workers 100 - Children What is the Participation Rate of Macroland? Your answer should be a percentage

Ian works at an iron smelter in Pittsburgh, the center of iron production in America. Due to the difficulty in measuring the productivity of individual employees, Ian's employer as well as the other iron smelters all pay an efficiency wage. Adjust the wage line on the graph to reflect this situation. What characteristic of efficiency-wage jobs is not supported by the situation shown in the graph? The wage rate will eventually return to the market-clearing level. Efficiency wages result in an increase in the rate of unemployment. Elevated wages serve as an economic incentive to work harder. Efficiency wage jobs result in a surplus of workers at the wage being offered. Wage ($ per hour) Wage Quantity of workers (in thousands) S O

Q1) Explain why the intergenerational correlation of earnings would likely be higher or lower than average for the following groups and factors in the United States: (a) Improved educational outcomes for all populations (e.g., minority, low-income, rural) as hoped for by No Child Left Behind. (b) The elimination of legacy admits to Colleges and Universities. (c) The implementation of a federal inheritance tax.

Question 2. (Child Labor). Take the unisex model of fertility where a parent has tastes of the form Inc+(1-0) Inn. Here c is their consumption and n is the number of children that they have. Suppose that a parent earns the wage w and has one unit of time to split between working and rearing children. Each child costs y units of time to raise. A child has one unit of time and can earn the wage rate v 1, as it would have been historically. How does this effect the number of children, n? Discuss the economics underlying your result. (Hint: Note that da/dxalna.) 5. Why do you need to substitute the solution for v into the first-order condition after you solve the parent's problem? 6. Discuss the import of this question.

Suppose the wage at the 80th percentile is $130,000 and the wage at the 20th percentile is $25,600.  What is the 80-20 wage gap?  Show your work.

Alexandro, a French national is working as a Manager in an international company in the United States. Alexandro supervises about twenty two product engineers and five technicians in an automobile manufacturing unit. The technicians and engineers report to Alexandro every Tuesday of the week to update of their work and Alexandro finds this very taxing and cumbersome (stressful). In fact, Alexandro proposed to introduce a paper-report system where all the employees he supervises can write and submit paper-based reports. But, the management rejected his idea citing more bureaucracy to which Alexandro told his immediate boss, "This is how we do it in France. It is the right way and perhaps this should be implemented here too." You understand that Alexandro has adopted: A. Stereotyping B. Ethnocentrism C. Cultural pluralism D. None of the above

discuss the  key concepts of the Heckscher-Ohlin Model on factor intensity