According to the earning equation developed by Mincer, which of the following items must have positive relationship with one’s earning? A. Year of schooling B. Year of working C. Number of family members D. A & B E. All of the above

Q: Using the midpoint basis, and expressing the answer in fraction or integer format, calculate the…

A: Mid-point method Percentage change in price = [(P2 - P1) / ((P2 + P1)/2)]

Q: Discuss the significance of the study of business economics to every manager.

A: business economics helps a manager to take decisions and solving the problem in day to day life of a…

Q: Explain Decision Rule for Simple Investments?

A: The investment is an important aspect that determines the development and growth of the economy. The…

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A: Since you have asked multiple sub-parts, we will answer only the first three sub-parts for you. If…

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A: The purchasing power (PP) is the quantity of goods that can be bought from a given level of income…

Q: a. wage = -0.90 + 0.54 education b. Provide an interpretation for how wage is related to education…

A: Part A: wage^=-0.90+0.54 education       .........(1)

Q: 2. Now, reestimate the model using the log of netinc and salary: return = -36.30 + .327dkr + .069eps…

A: An effective statistical tool for examining the relationship between two or more variables of…

Q: Point A is: (a) Attainable E 13 (b) Not attainable 12 (c) Desirable and attainable Qx (d) Desirable…

A: A production possibilities frontier is the locus of all most extreme yield blends, considering there…

Q: in the circular flow model of the market system, households' major role is to O a. sell both…

A: In a circular flow model of the economy the major exchanges are represented as flows of money, goods…

Q: Why does the general public often refer to the cost-of-living index?

A: The economy consists of different type of people in it. There will be some with high financial…

Q: Suppose the return and cost of entrepreneurship curves are described by the following equations…

A: Given,  Equation for Return: R=600-100N Equation for Cost of Entrepreneurship: C=200+150N where,  C…

Q: Identify the earners of the following income. 1. Rent 2. Salaries 3. Taxes 4. Dividends 5. Tips 6.…

A: The answer to the question are is follows :

Q: a) Employ the skill circle model and calculate skill range, skill range and total labor cost per…

A: Workers = 240 Training cost (T) = $ 1260 / hr Wage (W) = $80 / hr

Q: Write the two computational schemes for calculating the earned interest?

A: Interest is the amount of money that is compensated to the lender by the borrower for using the…

Q: Define the term cost-of-living index?

A: Cost-of-living refers to the amount of money that is required by an individual to maintain an…

Q: Definition of micro

A: In economics we study the decision of societies in the condition of scarcity, people has to choose…

Q: If a person works a standard 8 hour day he will be at Point C on the graph. At C, how many hours of…

A: Here, we are assuming that there are 24 hours in a day that a person can divide between working…

Q: It is the periodic compensation for the use of money; the amount of money paid for the use of…

A: The price of capital is called interest. Interest rate refers to the percent of the principal value…

Q: if Age dependency ratio (% of working-age population) increas what will happen to fixed capital…

A: In basic or simple terms we can say that the Fixed capital consumption is known to be as the…

Q: Q5. Construct the Fisher's "Ideal" weighted aggregative price index number for 2018 and 2019 from…

A: Laspeyres Price index (P01) L: ∑p1q0 / ∑p0q0 × 100 Paasche Price index (P01) P : ∑p1q1 / ∑p0q1 × 100…

Q: Which category of household expenditures does the U.S. government consider to be a component used in…

A: A minimum standard of living refers to ability of an individual to acquire food, clothing and…

Q: he concept and give other applications of the learning curve. What does 90 percent learning curve…

A: A learning curve refers to the graph that shows the relation between the performance of the learner…

Q: What are the three components of the rate of return?

A: Rate of return is an expected annual income from an investment. It is expressed in terms of…

Q: What is the difference between the rental price and the purchase price of capital?

A: In economics, the rental price (rk) of capital refers to the opportunity cost of hiring capital.…

Q: The __________ is the belief that work is an obligation and that capital should be reinvested for…

A: The purpose of investing is the generation of return or income from an asset that is being invested…

Q: John is a talented artist who received an offer to go pro gymnast. He graduated fr the business…

A: Net present value (NPV) can be calculated by using the following formula.

Q: With respect to the specific factor model, an increase in the price of food and the cloth by 5% will…

A: Meaning of Fixed Factor: The term fixed factor refers to the situation under which the factor of…

Q: 66. Which of the following input factor takes risk, innovates and coordinates А. О Сapital B. O…

A: Option D Entrepreneur takes risk in business by allocating his capital and time, does innovation and…

Q: It is the highest-valued alternative, forgone, that is the ________ of the thing that you choose to…

A: Economics is a discipline that works on an assumption that the consumers are the rational beings in…

Q: Define the term, Principal P?

A: An economic transaction is an agreement between two parties in which one party agrees to change an…

Q: What is Cost of Living Adjustments. Why do we need to consider

A: In economics matters, inflation is a general expansion in the costs of labor and products in an…

Q: Valerie earns $10,000 from 40% ownership of her family business." This question is concerned with…

A: There are four sectors in the economy namely: Household sector, Business sector, Government sector…

Q: If RGDP as measured by the Product Market is shown to be $14T, explain what you would expect RGDP as…

A: GDP is the sum of the final market value of all the final goods and services produced within the…

Q: Explain with the help of a diagram the circular flow of income. Identity the parts of the model that…

A: The circular flow of income help understands the flows of activities such as the production of goods…

Q: .  The rate of ______ is the ______ paid for using someone else’s ______, which is a _____ to…

A: Nominal interest rate is the rate of interest borrowers have to pay on amount borrowed from…

Q: The decision to invest in human capital does NOT involve which of the following? Direct expenditures…

A:

Q: O A. improvements in technology does not improve standards of living. O B. increases in land use…

A: A pessimistic long run Malthusian always results that the population control does not increase the…

Q: Quentity of ouput e of cookies per hour) Total produ Quanlity of Input (of workers) O increasing…

A: Answer is given below

Q: What is the distinction between total value and unit value according to Mises?

A: The Mises is an institute that is described as a leading supporter of the world of the ideas of…

Q: Define the term Surcharging.

A: Tax: Tax is a compulsory charge or payment that is imposed by the government on the taxpayers.…

Q: What are pure specific factors model and mixed pecific factors model? How does the two differ?

A: Factor models in economics use the time series element as well as the factors of production as well.…

Q: Sara Lee just graduated from college with a degree in accounting. She hadfive job offers: Bean…

A: Because individuals have limited resources at their disposal, the problem of scarcity requires them…

Q: What is Base-Case Analysis?

A: In the financial model, while the process of inputting data, there would have been several…

Q: If a researcher wanted to gain a greater understanding of a particular research problem, they would…

A: Research is conducted to add new knowledge in the existing stock of the knowledge. Human can develop…

Q: The function f determines the cost (in dollars) of a new Honda Accord in terms of the number of…

A: Given, f(t) is the cost (in dollars) of a new honda accord t years after 2000. (a) Cost of a new…

Q: Authentic Biscuits from Australia … to Sell or Dispose? Helena is an MBA graduate from a Malaysian…

A: 1) I) ECONOMIC In economic viewpoint, Madam Marina has submitted a capital expense of nearly RM…

Q: Importance of managerial economics to accountancy.How they are connected?

A: A stream of management theory that focuses primarily on solving business problems and different…

Q: An example of a flow variable is a. capital. b. consumption expenditure by households. c. the…

A: A flow variable has always been a quantifiable variable that is assessed throughout time. It has a…