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- Explain any four Economic condition for an increase in demand for education in a country over a period of time??a. Draw the wage-schooling locus for someone for whom the returns to schooling decrease through college but increase after college. (Assume college is completed after 16 years of schooling and that one can receive at most 6 years of postcollege schooling.) b. On a new graph, plot the marginal rate of return to schooling implied by the wage-schooling locus described in part a. c. What can be said about a college graduate who faces the wage-schooling locus described in part a?A visiting American executive finds that a foreign subsidiary inBangladesh has hired a 12-year-old girl to work on a factoryfloor, in violation of the company's prohibition on child labour.He tells the local manager to replace the child and tell her to goback to school. The local manager tells the American executivethat the child is an orphan with no other means of support, andshe will probably become a street child if she is denied work. explain Cultural Relativist based on the statement given
- Women’s empowerment movement eyes 40% of government spending accreditation …Last year the South African government affirmed its support for women-owned businesses as part of its commitment to ensuring that gender equality in Africa’s most advanced economy was achieved. President Cyril Ramaphosa said then: “We are going to drive women’s economic inclusion through public procurement. We have set the target of ensuring that 40% of goods and services procured by public entities are procured from women-owned business.” a) Market participation. b) Government spending. c) Commercialisation. d) Nationalisation.Will a free market tend to encourage or discourage discrimination? Explain briefly.Other than the demand for labor, what would be another example of a 'derived demand?
- The table below is an illustration of Pareto efficiency criterion after the implementation of a state income policy in some selected Ministries . Before policy. After policy Ministry A. 400 800 Ministry B. 200 200 Ministry C . 300 300 Total. 900 1300 There is a trade-off between equity and efficiency in a perfectly competitive market system. Analyse with the aid of a diagram how efficiency will not be compromised in government’s welfare programwhat specific educational reforms should be made to ensure that thepoor and middle-income students would have a greater chance to be admitted in thestate universities and colleges in the country?In regards to minimum wage, should there be a national standard or should minimum wage be regulated by the state?
- What do we mean by the economics of education? To what extent do you think educational planning and policy decision ought to be guided by economic considerations. Explain.Among full-time U.S. workers, white women earnabout _________ percent less than white men, andblack men earn about _________ percent less thanwhite men.a. 5; 20b. 5; 40c. 20; 20d. 20; 40The table below is an illustration of Pareto efficiency criterion after the implementation of a state income policy in some selected Ministries . Before policy. After policy Ministry A. 400 800 Ministry B. 200 200 Ministry C . 300 300 Total. 900 1300 Requiredi) a) Is there a Pareto improvement? Why? b) With reference to the table, explain Pareto optimality.c) Analyse the welfare condition of the Ministries after the income policy. ii) There is a trade-off between equity and efficiency in a perfectly competitive market system.Analyse with the aid of a diagram how efficiency will not be compromised in government’s welfare program.
