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- TRUE OR FALSE: 1. Generally, those who have higher wages are people with more human capital. Hence, more schooling as well as more work experience, generally lead to higher wages. 2. Smaller Gini ratio leads to more equal income distribution.Select whether True or False An example of economic discrimination is the creation of "ethnic" neighborhoods. In this example, econornic discrimination allows for society to keep "undesirable" elements and people out of certain ares of a city. Therefore, it is a means of keeping certain areas of the city more economically valuable, especially in terms of property values. True FalseWhich of these variables are not considered a function of state occupational regulation? A. Consumer sophistication B. Public representation C. Size of the corporation D. Contact among consumers Complexity is the closeness of the industry to the scientific state of the art. True False What actors penetrate the subsystems to wage policy action? A. CEO's of industry B. Journeyman C. Journalist D. None of the above
- Many employers in the U.S. pay significant amounts towards their employees' health insurance premiums. If the benefit-cost per full-time employee rises (e.g. when the insurer raises premiums) and the employer does not want the total cost of the employees' compensation (wage + benefits) to rise, all of the following would represent valid options for the employer to consider, except a. replacing some full-time employees with part-time workers. b. prohibiting fulltime employees to work overtime and hire temporary part-time workers to work those extra hours instead (assuming overtime is paid at the same wage rate as regular work hours). c. increasing full-time employee's contribution towards premiums; not changing wages. d.laying off some of the full-time employees and instituting mandatory overtime for the remaining full-time employees (assuming overtime is paid at the same wage rate as regular work hours).Female workers tend to earn a lower wage compared to their male counterparts when performing the same job. What is this an example of? a.Signaling b.All of the answers are correct c.Discrimination d.ScreeningYou are a brand analyst working for a large multinational retail organisation in South Africa. Theorganisation specialises in premium products. You have been provided with the followingstatement: “According to the World Bank, South Africa remains a dual economy with one of thehighest inequality rates in the world, with a Gini Coefficient of 0.643.”The Board of Directors convened a special meeting to discuss the implications of the quote above.You are required to produce a brief on the statement above, specifically referring to theimplications it holds for the brand.You were able to locate the following graph denoting the Lorenz curve from which the Ginicoefficient was derived: Answer the following question: A discussion relating to the attributes that make the Gini coefficient a desirable means ofmeasurement.
- You are a brand analyst working for a large multinational retail organisation in South Africa. Theorganisation specialises in premium products. You have been provided with the followingstatement: “According to the World Bank, South Africa remains a dual economy with one of thehighest inequality rates in the world, with a Gini Coefficient of 0.643.”The Board of Directors convened a special meeting to discuss the implications of the quote above.You are required to produce a brief on the statement above, specifically referring to theimplications it holds for the brand.You were able to locate the following graph denoting the Lorenz curve from which the Ginicoefficient was derived: Asnwer the following: • A good, understandable definition of the Gini Coefficient. Indicate the significance of theSouth African Gini coefficient in relation to Gini coefficient ranges associated with equaland unequal income distributions;You are a brand analyst working for a large multinational retail organisation in South Africa. Theorganisation specialises in premium products. You have been provided with the followingstatement: “According to the World Bank, South Africa remains a dual economy with one of thehighest inequality rates in the world, with a Gini Coefficient of 0.643.”The Board of Directors convened a special meeting to discuss the implications of the quote above.You are required to produce a brief on the statement above, specifically referring to theimplications it holds for the brand.You were able to locate the following graph denoting the Lorenz curve from which the Ginicoefficient was derived: Answer the following: 1.1) Explain the implications of a Gini Coefficient of 0.643 relating to the South Africaneconomy, retail sector and brand of the organisation. Derive practical examples from theLorenz curve to substantiate your explanation.You are a brand analyst working for a large multinational retail organisation in South Africa. Theorganisation specialises in premium products. You have been provided with the followingstatement: “According to the World Bank, South Africa remains a dual economy with one of thehighest inequality rates in the world, with a Gini Coefficient of 0.643.”The Board of Directors convened a special meeting to discuss the implications of the quote above.You are required to produce a brief on the statement above, specifically referring to theimplications it holds for the brand.You were able to locate the following graph denoting the Lorenz curve from which the Ginicoefficient was derived: Answer the following question: Explain how the Gini coefficient is derived from the Lorenz curve by making use of thegraph provided;
- When testing for wage discrimination based on race, which of the following variables are control variables? A wage and race B experience and performance C experience and race D performance and race E wage and experienceWith examples, Differentiate between discrimination and pre-market discrimination with respect to labor economics.Part B: As a policy analyst for the Congressional Budget Office, you have been asked to estimate the potential costs of occupational licensing to the U.S. economy. Using demand analysis, a basic examination of the national costs of licensing could be developed as follows: Suppose that the entire 10 percent wage premium is from market power (as opposed to greater productivity from enhanced human capital), and further assume that labor supply is perfectly elastic and the labor demand elasticity is 0.5. Hypothetically, assume that the Census data suggests that there are approximately 68 million licensed workers in the U.S. Also assume that the average earning is $50,000. Calculate the potential job loss and the annual cost to consumers as a consequence of occupational licensing. Hint: Recall that the movement up the demand curve is the change in wages times the labor demand elasticity times the number of workers. To calculate the costs, what would a license worker make if they were…
