(c)Radha is awake for 100 hours in a week. She is earning Rs.1200 per week by working for 60 hours. This year she gets a scholarship of Rs.500 per week and hercompany also raises her wage to Rs.40 per hour. Analyze the impact of this change in her income & on her labor supply. (8)
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- Ken has an annual non-labour income of $5000. Suppose he has the total available time of 52×80=4160 hours per year. Ken's wage rate is $15 per hour, and he chooses to work 2000 hours in a year. Suppose Ken’s wage rate rises from $15 to $18 dollars per hour, and he decides to work 2040 hours. At $18 per hour, if he worked 2200 hours per year, he would be indifferent to his original work decision before the wage increase Then: -Draw a diagram to show Ken’s choices before and after the wage increase. Calculate his maximum and optimal income before and after the wage change. And calculate the substitution effect, income effect and total effect generated by the wage change. Show these three effects in your diagram.John works for a government agency in California making $70,000 per year. He is being transferred to a branch office in Tennessee. The salary reduction associated with transfer is 11%. The Cost of Living Index (similar to consumer price index or equipment price index) in California is 132 whereas the Cost of Living Index in Tennessee is 95. a. How much extra income does John made as a result of the reduced Cost of Living? b. What is the adjusted salary of John based on the Cost of Living?Joel is presently unemployed due to Covid-19. However instead of having employment records to produce he only has records of his full time enrollment at an accredited institution of higher learning for the last 2 years. Will he be eligible to receive either regular or disaster unemployment benefits due to this unique situation he finds himself in ? He is willing and able to look for work but cannot due to Covid-19. He needs answer applicable to either TX or FL. Thanks
- In 1972 the maximum earnings of a worker subject to Social Security tax (SST) was $9,000. The maximum earnings subject to SST in 2016 is $118,500. Whatcompound annual increase has been experienced over this 44-year period of time? How does it compare with a 3% annual increase in the consumer price index over the same period of time?According to the earning equation developed by Mincer, which of the following itemsmust have positive relationship with one’s earning?A. Year of schoolingB. Year of workingC. Number of family membersD. A & BE. All of the aboveBusiness Maths Question e) Jane is saleswoman employed to sell TV sets on a salary and commission basis. Her fixed monthly salary is 12,500/-. In an addition she receive 5% commission on the first 50,000/- sales and 12.5% on the sales in excess of 50,000/-. During the month of January last year, her total earning amounted to 27,000/-. How many TV sets did she sell if each set costs 7300/-?
- Mark is currently earning $44,000 a year. He has worked for this firm for 5 years. He is considering a job that will increase his lifetime earnings by $240,000 but that requires a Ph.D. in finance. The job will mean also attending a full-time finance program for four years at an annual cost of $28,500. Mark already completed an MBA, for which he spent $86,000 in tuition and books. Would he take the job and attend the Ph.D. program? Calculate: Insutructions: Use ono decimals. Use commas (30,000, not 30000). Opportunity costs of this decision = $ MC = $ MB = $ Sunk Costs = $Major economic issues facing our society and, in particular, my generation today, I believe, would be inflation. Inflation is sincerely knocking me down currently. Gas prices continuously are increasing, the market for housing is never in favor of the demand, and prices are consistently escalating. I was staying in a one bedroom apartment for one year, it was $1250 per month including my pet fee. That is a ridiculous amount of money to pay for a one bedroom apartment for one person. In order to be approved for the apartment even, I had to prove that I made three times the amount of rent per month. As a current student with a part time job, I do not nearly make enough for that and had to use a cosigner. Even while I was working full time, I barely could afford to pay the rent by myself and have enough money for other expenses such as groceries. After leaving my apartment, my landlord was telling me that she is planning to redo the interior and charge even more per month for the space.…Stuck on determining the figure
- Lucille receives an annual salary of $37,500 based on a 37.5-hour workweek. What are her gross earnings for a two-week pay period in which she works 9 hours of overtime at 1 1/2 times her regular rate of pay? (Assume there are exactly 52 weeks in a year. Round your answer to the nearest cent.) Gross earnings =Could somebody help me with this assignment? Thanks in advnace. It is related to macro.The state government works with local employers to develop training programs to ensure student's skills will better match the skills demanded by employers. This can be expected to _____ labor productivity. Additionally, because worker skills have improved we can expect wages paid by employers to _______. Group of answer choices increase : increase increase : decrease decrease : increase decrease : decrease