ALFRED l 110 100 Jan 1992 Employment Level: Less than a High 12,266.0 (12.4 % ) School Diploma, 25 years and over Vintage: 2017-11-03: 90 80 70 Employment Level: High School Graduates, No College, 25 years and over Vintage: 2017-11-03: Employment Level: Some College or 24,962.0 (25.2 6) Associate Degree, 25 years and over Vintage: 2017-11-03: Employment Level: Bachelor's Degree and Higher, 25 years and over Vintage: 2017-11-03: 35,237.0 (35.5%) 60 50 40 30 26,776.0 (27.0%) 20 10 0 1995 2000 2005 2010 2015 2000 Percent ALFRED l Jan 2017 Employment Level: Less than a High School Diploma, 25 years and over Vintage: 2017-11-03: 9,725.0 (7.3%) 110 100 Employment Level: High School Graduates, No College, 25 years and over Vintage: 2017-11-03: Employment Level: Some College or 36,563.0 (27.5% ) Associate Degree, 25 years and over Vintage: 2017-11-03: Employment Level: Bachelor's Degree and Higher, 25 years and over Vintage: 2017-11-03: 33,580.0 (25.3%) 90 80 70 60 50 52,925.0 (39.9%) 40 30 20 10 2000 2010 1995 2005 2015 2000 Source: U.S. Bureau of Labor Statistics Percent

ALFRED l 110 100 Jan 1992 Employment Level: Less than a High 12,266.0 (12.4 % ) School Diploma, 25 years and over Vintage: 2017-11-03: 90 80 70 Employment Level: High School Graduates, No College, 25 years and over Vintage: 2017-11-03: Employment Level: Some College or 24,962.0 (25.2 6) Associate Degree, 25 years and over Vintage: 2017-11-03: Employment Level: Bachelor's Degree and Higher, 25 years and over Vintage: 2017-11-03: 35,237.0 (35.5%) 60 50 40 30 26,776.0 (27.0%) 20 10 0 1995 2000 2005 2010 2015 2000 Percent ALFRED l Jan 2017 Employment Level: Less than a High School Diploma, 25 years and over Vintage: 2017-11-03: 9,725.0 (7.3%) 110 100 Employment Level: High School Graduates, No College, 25 years and over Vintage: 2017-11-03: Employment Level: Some College or 36,563.0 (27.5% ) Associate Degree, 25 years and over Vintage: 2017-11-03: Employment Level: Bachelor's Degree and Higher, 25 years and over Vintage: 2017-11-03: 33,580.0 (25.3%) 90 80 70 60 50 52,925.0 (39.9%) 40 30 20 10 2000 2010 1995 2005 2015 2000 Source: U.S. Bureau of Labor Statistics Percent

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter11: Labor Markets

Section: Chapter Questions

Problem 1SQ

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23. An education economist estimated the wage equation to determine the rate of return to an additional year of education and obtained ln(WAGE) = -0.5220+0.1075×EDUC. it is anticipated that ability ( attributes, such as intelligence, creativity, perseverance and industriousness) is positively correlated with UDUC. If a measure of a bility is omitted from the model the estimated return to education A. Is biased downwards B. Is biased upwards C. Cannot be estimated D. All the above
Need help ASAP, will give thumbs up: QUESTION: If you can use data from all of the Census years listed above, what is the best estimate of the wage gains (measured in percentage points of the average wage of U.S. -born workers) from 20 years of assimilation for immigrants who arrived in the U.S. between 1975-1979? ANSWER CHOICES: 10 15 20 25 40
13)Assume that the dummy variable Married=1 if married (0if not married),Sex=1 if male (0if male), and that you estimate the equation: log(wage)= B0 + B1 Married + B2*Sex +B3(Married*Sex). The estimated llog wage for an unmarried woman can be estimated by:a.B0 b.B0+B1+B2 c.B0+B1+B2+B3 d.B0+B3
Pls answer in 5-6 sentence only -) this is homewrok given to me.
1- ECON101
Over the last several decades improvements in computer software, hardware and robotics have dramatically altered the ability of machines to do complex repetitive tasks. Discuss the implications for semi-skilled skilled workersas a result of this improvement. Discuss how the cost of the new technology influences the choice of inputs used in production and the rate of adoption of the new technology. Can you please answer this question so there will be no plagiarism, you have answer for this question in your website, but more likely it is already copied by someone else
Candy is a Year 4 full-time undergraduate student majoring in marketing at a private university inHong Kong and she is going to be graduated after the summer break. She has collected some datafrom the Student Careers and Affairs Office (SCAO) related to her job planning.According to the graduate employment surveys conducted for the last two years by the privateuniversity, the average salary earned by the graduates of her programme is constant at around$14,000. Actually, Candy is quite disappointed.In view of this, Candy is considering to participate in an one-year internship program launched by theSCAO after her graduation. In other words, she would enter the job market “formally” one year laterif she joins the internship program. Finally, with the help of the SCAO, she could get an internshipoffer from a famous marketing company in Hong Kong. The monthly salary provided by the companyis $12,000 while a good reference letter would be prepared for the interns completing the…
MP believe that there is a causal relationship between earnings and years of schooling. They show you an estimate of the impact of years of schooling on annual earnings: There are two groups of individuals – group 1 and group 2. Group 1 on average earns £60,000 per year with the average level of post-compulsory education of 6 years, while group 2 earns on average £40,000 with the average post-compulsory education of 4 years. The MPs conclude that the annual return to an additional year of education is 25% using the following equation [(£60,000-£40,000)/40,000]/(6-4)=25%. Ignoring time preferences and discounting, and if both groups face the same cost of schooling, you need to explain to the MPs why this is not a good estimate of the annual return to an additional year of education. Propose methods to the MPs to deal with the problem
Suppose that education does not affect worker’s productivity, but it is more costly for low-ability workers to obtain the education. If firms cannot distinguish between different workers they must pay them all the wage equal to the expected productivity. If they can distinguish between workers with different abilities, they pay each worker their marginal product of labour and make zero profits. 70% of workers in the population have low ability. The productivity of low-ability workers is YL = 20000, and the productivity of high-ability workers is YH = 50000. The cost of education to high-ability workers is CH(S) = S 4 , and the cost of education to low-ability workers is CL = S. 1. Suppose firms cannot observe worker’s education. What wage will they offer to a highability worker? What is the optimal level of schooling for the high-ability worker? Why? 2. Suppose that firms can observe worker’s educational attainment and believe that workers with the level of schooling above some…
Suppose that education does not affect worker’s productivity, but it is more costly for low-ability workers to obtain the education. If firms cannot distinguish between different workers they must pay them all the wage equal to the expected productivity. If they can distinguish between workers with different abilities, they pay each worker their marginal product of labour and make zero profits. 70% of workers in the population have low ability. The productivity of low-ability workers is YL = 20000, and the productivity of high-ability workers is YH = 50000. The cost of education to high-ability workers is CH(S) = S 4 , and the cost of education to low-ability workers is CL = S. (Answer 4.5.6 only) 1. Suppose firms cannot observe worker’s education. What wage will they offer to a highability worker? What is the optimal level of schooling for the high-ability worker? Why? 2. Suppose that firms can observe worker’s educational attainment and believe that workers with the level of…
Some MPs believe that there is a causal relationship between earnings and years of schooling. They show you an estimate of the impact of years of schooling on annual earnings: There are two groups of individuals – group 1 and group 2. Group 1 on average earns £60,000 per year with the average level of post-compulsory education of 6 years, while group 2 earns on average £40,000 with the average post-compulsory education of 4 years. The MPs conclude that the annual return to an additional year of education is 25% using the following equation [(£60,000-£40,000)/40,000]/(6-4)=25%. Ignoring time preferences and discounting, and if both groups face the same cost of schooling, you need to explain to the MPs why this is not a good estimate of the annual return to an additional year of education. Propose methods to the MPs to deal with the problem. (300 words)
It is known that the ABC oil company supplies consumers with 150 tons of products per day. The company produces only two types of products - gasoline and diesel fuel. The limiting transformation ratio of diesel fuel relative to gasoline is 0.5. a) Draw a line of the company's monthly production capacity for gasoline and diesel. b) With the advent of new technologies, production increased by 20%, and the availability of gasoline increased by 30%. Explain how the company's new product line differs from the previous one. c) If we put the gasoline production on the X-axis of the graph, what percentage of the slope capacity of the production line is different from the slope ratio of the previous production line?