1. The table shown below lists a characteristics obsno 1 2 3 4 5 525 526 wage 3.10 3.24 3.00 6.00 5.30 11.56 3.50 (A) cross-sectional (B) time series (C) panel (D) longitudinal educ 11 12 11 8 12 16 14 data set on wage and other individual exper 2 22 2 44 7 55 5 5 female 1 1 0 0 0 0 1 married 0 1 0 1 1 1 0
Q: What is the wholesale cost of an item, if the retail cost is $62 and the amount of markup is $17?…
A: The wholesale cost of an item can be defined as the cost that is charged to those to whom the goods…
Q: QUESTION 37 Startups that focus on business solutions are at a disadvantage because other businesses…
A: B2C means that the user or customer has time but lacks money. B2B means that the user or customer…
Q: Swedish net exports will when the price level in Sweden drops, due to the
A: The international trade effect states the effect of change in the price level on net exports. Net…
Q: Assume that Argentina keeps a fixed exchange rate with respect to the Brazilian currency and that…
A: The fixed exchange rate is the policy where the change in exchange rate will come again to the…
Q: Why does the marginal product curve have an inverted “U” shape?
A: Total product is the total no. of units produced by using the inputs. Marginal product is the…
Q: A manufacturer has been selling 1750 television sets a week at $420 each. A market survey indicates…
A: Demand - In an economy demand is the quantity of the good that consumers are willing to buy at…
Q: 5. ConnBank has made two types of loans-A and B-each has the principal of $1. The probability of…
A: Expected value (EV) explains the long-run average level of a random variable based on its…
Q: Problem Find all pure-strategy pooling and separating perfect Bayesian equilibria in the following…
A: In the above game there are two players : Player 1 & 2 Strategy Set of Player 1 : { L , R }…
Q: Consider the following information about a market in Duopoly. WTP-330-3QD MC1=20+4Q1 MC2=20+4Q2…
A: Total revenue is the product of price and quantity. Marginal revenue is the revenue generated from…
Q: Explain why the industry supply curve is not the long-run industry marginal cost curve. The industry…
A: The link between marginal revenue and average cost is frequently graphically represented as the…
Q: Lower taxes represent a negative AD shock. O False O True
A: The primary means through which a government brings money into its coffers is via the imposition of…
Q: try which type of expenditure (C, 1, G, X, M) this transaction belongs to when we calculate Real GDP…
A: Introduction GDP is basically the summation of the value of all goods and services produced in an…
Q: Ya'qub is going on vacation for 10 days. He is spending SR2000 on the plane ticket, SR500 for food…
A: Explicit costs are those costs that require a money payment. Implicit costs are those costs that do…
Q: 3. An investment of $180,000 with a salvage value of $30,000 in 10 years can reduce annual operating…
A: Present value is the idea that descrubes an amount of money this day is worth more than that same…
Q: Question 39 (1 point) Goods like food and education for which everyone should have a basic access,…
A:
Q: The demand for a firm's product on a market is given to be q = 40-2p. Find the price the firm…
A: Lerner index measures the market power posses by the firm. Formula: (P-MC) / P = -1/ Ed Where P is…
Q: (You can solve this -- think through all the formulas you know!) Suppose you know the following…
A: In short run , Capital is fixed and labors are variable. Average variable cost is the difference…
Q: 11. Suppose there are 2 types of firms which emit some uniformly-mixed pollution. We'll assume that…
A: there are two types of firms that emit some uniformly mixed pollution. We'll assume that they are…
Q: Ct and the following budget constraint: + 1- - a Ct+1 1+ R ft + Yt + Yt+1 and let c be consumption,…
A: Euler's equation is a differential equation. In economics, it is the equation that shows the…
Q: An investment promises to quadruple your money in six years. If the interest is compounded monthly,…
A: Present value is the value of investment in today's dollar. Future value is the value of investment…
Q: he consumption expenditure in the economy is $200mn. The investment expenditure in he economy is…
A: Government spending or government expenditure can be divided into three primary groups, government…
Q: The market consensus is that U.S. inflation will remain low, averaging 1% over the next 3 years.…
A: Inflation is the increase in the average price level of a basket of goods and services.
Q: could you please solve d) e) f)
A: Consumer Surplus: Consumer surplus is the net benefits that the consumer receives by purchasing…
Q: a) How many units will result in a maximum profit? x b) Find the revenue function. R(x) c) Find the…
A:
Q: In a competitive industry O a. individual firms face downward sloping demand curves O b. firms can…
A: "A competitive industry is a market structure which consists of large number of buyers and…
Q: If Mexico lowers its inflation target from 3 percent to 2 percent, the initial response tow will be…
A: Inflation happens when costs ascend across the economy, diminishing the buying influence of your…
Q: Distinguish between industrially Advanced countries and Developing countries. Give examples
A: Those countries whose rate of industrialization and per capita income is high is known as…
Q: PART. Use the following information to answer all questions: the demand curve D(x)=-x² +8x+9, the…
A: Total revenue is the product of price and quantity. Profit is the difference between total revenue…
Q: Consider the following finitely repeated date game. Write down a subgame perfect equilibrium. You…
A: Subgame perfect equilibrium is the refinement of the Nash equilibrium for the dynamic game. Nash…
Q: how much will a $100 tax cut increase disposable income? How much will it increase consumption?…
A: Disposable income is total personal income minus current income taxes. In national accounts…
Q: Assume that the sacrifice ratio in the Philippines is 3, the unemployment rate is at its natural…
A: The sacrifice ratio denotes the amount of GDP that must be sacrificed in order to decrease the…
Q: Lafayette Group (U.S.). The Lafayette Group, a private equity firm headquartered in Boston, borrows…
A: When a currency depreciates, it loses worth in comparison to the currencies of other nations. There…
Q: 1.Essay Question (2 Inflation is a rise in prices, which can be translated as the decline of…
A: The main objectives of taxation is to generate income to pay for significant public expenditures.…
Q: Consider the following IS-LM-BP model: IS Model: C = 250 +0.5(YT); T = 110 + 0.11Y; I = 150+ 0.35Y -…
A: Equilibrium conditions for following markets - IS : Y = C + I + G + NX LM : Ms = Md (Money…
Q: 1. Suppose simultaneous moves are introduced into a two-stage game of complete and perfect…
A: 1. In this case, we see two terms i.e. simultaneous move in the game and two-stage game of complete…
Q: Consider a correctly-specified demand-supply system: q = a₁p + B1121 + u₁ and p = a29 + B2121 +…
A: Provided information: The given demand-supply system q = α1p + β11 z1 + u1…
Q: QUESTION 42 A marketing channel is a business structure composed of interdependent organizations…
A: Firms that engage themselves in marketing campaigns are trying to execute a selling campaign that…
Q: Y2 Assume that neither country experiences population growth or technological progress and that 4…
A: The level of capital that is stable over time is known as k*( steady state level of capital). K* is…
Q: QUESTION 14 If the price of a good rises by 10% and the percentage decrease in the total amount…
A: The response of change in quantity demand (Q) to change in price (P) is shown by PEDprice…
Q: In countries in which there is nonprice rationing for care, waiting time costs may be substantial.…
A: The practice of limiting the availability of some medical care to specific populations or all…
Q: Jane has just begun her new job in the sales force of a very competitive company. In a sample of 32…
A:
Q: D. Market for Beer Bud Owen operates Bud's Package Store in a small college town. Bud sells six…
A:
Q: ABC Manufacturing has determined that the demand function for their heated socks is given by: D(p)…
A: Introduction: Elasticity of demand is the ability of the amount of a good or service to fluctuate in…
Q: Consider an open economy with a floating exchange rate regime. After a terrorist attack in the…
A: In the international market, Mundell Flemming's model explains the relationship between the nature…
Q: 100 90 80 70 60 55-- 50 + 40 30 20 10 Price MR D MC 5 10 15 20 25 30 35 40 Quantity Price…
A: In a monopoly market, the seller faces no competition as the seller is the sole seller of goods with…
Q: 10. A A and B are two firms who have a simultaneous strategic problem modeled in this table: Q=3 Q=4…
A: Nash equilibrium in a game refers to a strategy in which both parties playing the game are not…
Q: Are the following statements true or false? Explain a. If the government prices public transport so…
A: A break-even point is a point wherein there will be no profit or loss. In other words, it can also…
Q: (2) The pandemic has given us plenty of examples of the costs and benefits of externalities and…
A: Introduction The global pandemic is an economic as well as a social tragedy. the primary response to…
Q: What are the four theories explaining the relationships of currencies, interest rates, and…
A: In this case, we have to find out the theories which explains the relationship between currencies,…
Q: What is the wholesale cost of an item, if the retail cost is $37 and the amount of markup is $7? Use…
A: Retail is the sale of goods to final consumers and the units sold is individual unit of good.…
please quickly thanks !!
Step by step
Solved in 3 steps
- Workers are compensated by firms with benefits in addition to wages and salaries. The most prominent offered by many firms is health insurance. Suppose that in 2000, workers at one steel plant were paid $30 per hour and in addition received health benefits at the rate of $6 per hour. Also suppose that by 2010 workers at that plant were paid $31.50 per hour but received $13.5 in heakth insurance benefits. a. By what precentage did total compensation (wages plus benefits ) change at this plant from 2000 to 2010? Total compensation increased or decreased by________ percent? What was the approximate average annual percentage change in total compensation? b. By what percetage did wages change at this plant from 2000 to 2010? Wages increased or decreased by ______percent? What was the approximate average annual percentage in wages? c. If workers value a dollar of heath benefits as much as they value a dollar of wages, by what total percentage will they feel their incomes have risen over…assume there are two types of workers, low- and high-ability, andlet 0 = 0.25 be the proportion of high-ability workers in the population. Assume their marginalproductivity and, therefore, their wages are wh = $20 and wl = $16, and that both types canuse college education to signal high ability. The cost of college education for low-ability workersis cl = $5 whereas the cost for high-ability workers is ch = $2. Consider the wage for both types of workers and the high-ability workers’ college cost, ch. For which values of 0 (the proportion of high-ability workers in the population) do the high-ability workers prefer the separating equilibrium over the pooling equilibrium? (a) Any 0 > 1/2(b) Any 0 < 1/2 (c) Any 0 < 3/4(d) Only when 0 = 1Jackie moved to Spain to work for a public relations firm. She had health insurance from herprevious employer, but she was surprised to learn that her new employer in Spain did notoffer healthcare coverage. When she asked about this, she was told that more than 90percent of Spaniards use the public healthcare system, which was mostly free. However,her new employer did provide supplementary private health insurance that would allow herto receive quicker care from a private hospital if she desired.Jackie learned that she would be paying 4.7 percent of her salary and her employerwould pay 23.6 percent of her salary to the government for health insurance. She was given a Tarjeta Sanitaria Individual health card to prove that she had health insurance. With this,she could get free care at public hospitals and doctors’ offices. However, before seeing adoctor, she would need to register with a local primary care physician and decide whethershe would use public or private payment. If she needed…
- Jackie moved to Spain to work for a public relations firm. She had health insurance from herprevious employer, but she was surprised to learn that her new employer in Spain did notoffer healthcare coverage. When she asked about this, she was told that more than 90percent of Spaniards use the public healthcare system, which was mostly free. However,her new employer did provide supplementary private health insurance that would allow herto receive quicker care from a private hospital if she desired.Jackie learned that she would be paying 4.7 percent of her salary and her employerwould pay 23.6 percent of her salary to the government for health insurance. She was given a Tarjeta Sanitaria Individual health card to prove that she had health insurance. With this,she could get free care at public hospitals and doctors’ offices. However, before seeing adoctor, she would need to register with a local primary care physician and decide whethershe would use public or private payment. If she needed…Imagine that the wage-schooling locus is given by w(s)=s^(1/3). What will be the optimal level of education for an individual to take if next period’s earnings in any given time are worth 95% of current earnings for that individual? Answer is s=20/57 I need step by step calculationsSuppose that Congress passes a law requiringemployers to provide employees some benefit (suchas healthcare) that raises the cost of an employee by$4 per hour.a. What effect does this employer mandate haveon the demand for labor? (In answering this andthe following questions, be quantitative whenyou can.)b. If employees place a value on this benefit exactlyequal to its cost, what effect does this employermandate have on the supply of labor?c. If the wage can freely adjust to balance supply anddemand, how does this law affect the wage andthe level of employment? Are employers better orworse off? Are employees better or worse off?d. Suppose that, before the mandate, the wage in thismarket was $3 above the minimum wage. In thiscase, how does the employer mandate affect thewage, the level of employment, and the level ofunemployment?e. Now suppose that workers do not value themandated benefit at all. How does this alternativeassumption change your answers to parts(b) and (c)?
- Consider worker 1 with non-labour income Y facing a wage offer w and a utility functiondefined over consumption and leisureU(c,l) = lnC + 4lnl1) Compare worker 1 with worker 2 whose utility function is described by U(c,l) = cl. Whichworker places a higher value on labour market work?12) Suppose the worker participates in the labour market. Derive worker’s compensated laborsupply function and the compensated labour supply elasticity with respect to wage as a functionof utility level and wage.3) Derive worker’s uncompensated labour supply function (for labour market participants andnon-participants) and the uncompensated labour supply elasticity (for labor market participants)with respect to wage as a function of non-labour income and wage.4) Derive worker’s income elasticity. Is leisure a normal or inferior good for this worker?5) Provide the functional form of the income effect from a marginal decrease in income.6) Provide the functional form of the substitution and total income…3 Imagine that the wage-schooling locus is given by w(s)=s^(1/3). What will be the optimal level of education for an individual to take if next period’s earnings in any given time are worth 95% of current earnings for that individual? ---- HINT: the answer is s=20/57. I need step by step solutionoaxaca decomposition Suppose that, on average, men earn $20 an hour and have an average of 15 years of schooling. Women earn $15 an hour and have an average of 14 years of schooling. If the estimated return to schooling for men is 0.30 (implying that each additional year of schooling translates into an additional 30 cents per hour), then the gender gap in schooling explains: 20% of the wage gap between men and women More than 100% of the wage gap between men and women 15% of the wage gap between men and women None of the wage gap between men and women 6% of the wage gap between men and women
- Which set of policies is more likely to cause a tradeoff between economic output and equality: policies of redistribution policies aimed at the ladder of opportunity? Explain how the production possibility frontier tradeoff between economic equality and output might look in each case.A current debate in education is whether teachersshould be paid on a standard pay scale based solelyupon their years of training and teaching experience,or whether part of their salary should be based upontheir performance (called “merit pay”).a. Why might merit pay be desirable?b. Who might be opposed to a system of merit pay?c. What is a potential challenge of merit pay?d. A related issue: Why might a school district decideto pay teachers significantly more than the salariesoffered by surrounding districts?For any given job, how do the economy-wide labour market conditions affect aworker’s bargaining power? Explain which labour market variable you would look at toassess labour market conditions.