If the cost-of-living index is 270 in Miami, the real value of a $59,400 per year job offer in Mian is $ Type your answer here . If the cost-of-living index is 300 in San Diego, the real value of a $62.000 por voar ich offer in San Diego is Type your answer here In
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- Suppose your Chaffey college tuition per semester is $4,000 and your extra expenses with the college during the year (books, ather materiais, gas, meals, etc) sum $3,000. If you were not attending college, you could work at firm X and get an annual salary of $ 5,000. What is your opportunity cost of attending college in one year? In your calculations assume that you are taking 2 semesters in a yearMateo works eight hours per day. Today he has to decide whether to work overtime and stay one more hour in the office, or go back home and spend that hour studying for his economics exam. His company pays him $80 per day if he works eight hours, and $100 per day if he works nine hours. If Mateo studies one more hour, his exam score increases from 75 to 80, what is Mateo 's rational decision? Mateo decides to work overtime only if he values getting Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Oscar and Gwen live in Portland. Oscar’s net present value of lifetime earnings in Portland is $135,000, while Gwen’s is $450,000. The cost of moving to Memphis is $25,000 per person. In Memphis, Oscar’s net present value of lifetime earnings would be $145,000, while Gwen’s would be $520,000. If Oscar and Gwen choose where to live based on their joint well-being, will they move to Memphis? Is Oscar a tied-mover or a tied-stayer or neither? Is Gwen a tied-mover or a tied-stayer or neither?
- hy does a measure of labor productivity—the output produced per worker– rise for many firms during recessions? During the boom years period of 2005through November 2007, the annual average output per worker was lower in U.S.manufacturing than during the Great Recession of 2007–2009 as well during therelatively low-demand years since then through 2013.Firms produce less output during recessions as demand for their products falls.Consequently, firms typically lay off workers during recessions. Thus, whetheroutput per worker rises or falls depends on whether output or employment fallsby more. The labor productivity pattern over the business cycle differs across in-dustries. If we know about a firm’s production process, can we predict whetheroutput produced per worker will rise or fall with each additional layoff?Galaxy, a multinational corporation, has two plants, one in the United States and the other inMexico, and it cannot change the size of the plants or the amount of capital equipment in theshort run. The wage in Mexico is equivalent to US $5 per hour. The wage in the U.S. is $25 perhour. Given current employment situation, the productivity per worker in Mexico is 200 units perhour, and the productivity per worker in the U.S. is 400 units per hour.Is Galaxy maximizing output relative to its labor cost? If not, what should Galaxy doMadeleine is a high school graduate deciding whether to go to university. She (like everyone else) lives for two periods after high school. In the first period, she can work (without university) for a salary of YH, or she can attend university. If she attends university, she must pay $5000 in fees (tuition, books), but she will also earn $5000 from a sum- mer job. In the second period, she will continue to earn YH if she did not attend university, or she will earn YU if she went to university. The interest rate at which money can be borrowed or invested is r. Show that she will attend university if YU . (2 1 r)YH. Explain how an increase in the interest rate would affect her decision to attend university.
- Explain any two of the problems in measuring the cost of living.Marginal Produt and Resources How would you determine the demand for a factor of production? What factors influence the supply and demand for labor? Examine how those factors impact market demand for labor. How do labor unions try to increase the demand for labor? What has made labor unions such an integral part of the workforce? What is the difference between the rates of return for a renewable and nonrenewable resource? How do the rates of return on capital and land differ between a renewable resource and nonrenewable resource? How does the growing demand for food, fuel, and export affect the market for land?Currentlyyouworkfor40hoursperweekatthewagerateof$20anhour.Your free hours are defined as the number of hours not spent in work per week, which in this case is 24 hours × 7 days − 40 hours = 128 hours per week. Suppose now that your wage rate has increased by 25%. If you are happy to keep your total weekly income constant, how many hours will you work? How many free hours will you have?
- Cowles Foundationfor Research in Economicsat Yale UniversityCowles Foundation Discussion Paper No. 2021ARE WE APPROACHING AN ECONOMIC SINGULARITY?INFORMATION TECHNOLOGY AND THE FUTUREOF ECONOMIC GROWTHWilliam D. NordhausSeptember 2015An author index to the working papers in theCowles Foundation Discussion Paper Series is located at:http://cowles.yale.edu/This paper can be downloaded without charge from theSocial Science Research Network Electronic Paper Collection:http://ssrn.com/abstract=2658259Electronic copy available at: http://ssrn.com/abstract=2658259Are We Approaching an Economic Singularity?Information Technology and the Future of Economic GrowthWilliam D. Nordhaus1September 1, 2015AbstractWhat are the prospects for long-run economic growth? The presentstudy looks at a recently launched hypothesis, which I label Singularity.The idea here is that rapid growth in computation and artificialintelligence will cross some boundary or Singularity after whicheconomic growth will…Tully is a graduating high school senior deciding between three alternative combinations of education-work options. He could start working immediately and earn $30,000 working in a burrito truck in period one. His salary would increase to $60,000 in period 2 as he would become chef, and then fall in period 3 to $50,000 as he would become too physically tired to work too much in the kitchen. His first alternative is to spend $15,000 to attend Da-Lousy University for economics and earn an undergrad degree in period 1. Upon obtaining his degree he would earn $80,000 as an economist for periods 2 and 3. The final option is for Tully to complete a doctorate degree in economics after finishing his undergrad degree. There would be no direct costs as he would get scholarships, but he could not work in period 2 while he completed his PhD. After finishing his PhD he would earn $200,000 as an Econ Prof at Kings University in period 3. His discount rate is 15 percent per period. What should Tully…Himig has two part-time jobs, as an assistant worker in a fast food chain (Job 1) and and as a receptionist at a small hotel (Job 2). Due to her heavy load in her studies, Himig can only render 12 hours a week in her jobs. She has determined that for every hour she works at Job 1, she needs 2 hours of preparation time, and for every hour she works at Job II, she needs one hour of preparation time, and she cannot spend more than 16 hours for preparation. If Himig makes Php 40 an hour at Job 1, and Php30 an hour at Job 2, how many hours should she work per week at each job to maximize her income? (Let x = Job 1; y = Job 2).
