Medical workers receive lower wages here in the Philippines tend to migrate in the U.S. because of pull factors such as getting higher pay and better benefits there. O TRUE O FALSE
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- Suppose there are two types of persons: high-ability and low-ability. A particular diploma costs a high-ability person $8,000 and costs a low-ability person $20,000. Firms wish to use education as a screening device where they intend to pay $25,000 to workers without a diploma and $ K to those with a diploma. In what range must K be to make this an effective screening device?what is a way to increase the production of undersupplied goods with positive spillovers? plzz don't give me plagiarised answerRecently in the City of Seoul, building contractors lobbied the city council to pass an ordinace requiring all people working on residential dwellings be licensed by the city. Why would the contractors lobby for this requirement? A. to create legal barrier to entry B. to reduce the cost of building dwellings C. to guarantee that work on dwellings is of high quality D. to avoid informal settlers
- Assume the city of Norman is currently comprised of high productivity workers (MPHP = 80) andlow productivity workers (MPLP = 25). You estimate that 30% are high productivity.(a) Let’s assume every firm had perfect information. If that was the case, what is the market wage?(b) In reality, there is always some asymmetric information. In this case, what would be the marketwage?(c) Now, let’s assume the firm is willing to offer a wage of $80 to anyone with ̄e years of education.Let’s assume the cost for a high productivity work is $5 per year, and the cost for a lowproductivity worker is $11 per year. For what levels of ̄e will each type go to college?(d) What is the separating equilibrium?(e) Now, let’s assume you were wrong about the number of high productivity workers. In reality,50% are considered high productivity workers. How does this impact your answers? Is eachgroup more or less likely to go to college now? Explain.(f) What about if the community actually contained 80% high…a. On a graph with the probability of injury on the x-axis and the wage level on the y-axis plot two indifference curves, labeled UA and UB, so that the person associated with UA is less willing to take on risk relative to the person associated with UB. Explain what it is about the indifference curves that reveals person A is less willing to take on risk relative to person B. b. Consider a third person who doesn’t care about the risk associated with the job. That is, he doesn’t seek to limit risk or to expose himself to risk. On a new graph, draw several of this person’s indifference curves. Include an arrow on the graph showing which direction is associated with higher levels of utility. c. Consider a wage-risk equilibrium that is characterized by an upward-sloping hedonic wage function. Now suppose there is a government campaign that successfully alters people’s perception of risk. In particular, each worker adjusts her preferences so that she now needs to be more highly compensated…Suppose there are two types of persons: high-ability and low-ability. Firms wish to use education as a screening device where they intend to pay $25,000 to workers without a diploma and $35,000 to those with a diploma. Assume it costs $8,000 of for a high-ability person to obtain a diploma. If is cost $10,000 for a low-ability person to obtain a diploma, can the firm use diploma to screen low ability from high ability worker. Explain and support your answer using math. How would your answer change it the cost of obtaining a diploma for a low productivity person were to increase to $15,000.
- The owners of a QPedix, a small manufacturing company, have hired a manager to run the company. The compensation of the new Vice President is a flat salary (currently set at $50,000) plus 75% of the first $150,000 profit, then 10% of profit over $150,000. Discuss how the annual compensation of the Vice president vary with the corresponding company’s annual profit—use a schedule (table) and/or graph. Further, discuss the alignment of the incentives of the new Vice president with the profitability goals of the owners and, if necessary, propose a contract that better aligns the incentives of the new Vice president with the profitability goals of the owners.A firm's board of directors wants to maximize its profits. If the firm's manager puts in a high effort, the firm gets a high profit of 9 with probability 80%, but if the manager puts in a low effort, the firm gets a low profit of 4 with probability 80%. The utility functions of both the board of directors and the manager are identical and are simply u(b)-b. High effort for the manager costs 2. The manaаger has an outside wage of 1. Calculate the optimal wage schedule under high and low realized profits.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?
- _____ is when everyone in a country is covered by insurance that is run and administered by the government. This strategy is effective at combatting _____. a. Means tested health insurance; adverse selection b. Universal public health insurance; adverse selection c. Universal public health insurance; moral hazard d. Compulsory insurance; moral hazard e. Compulsory insurance; monopoly pricing f. Means tested health insurance; moral hazardFor Group A the cost of attaining an educational level y is CA(y) = $6,000y and for Group B the cost of attaining that level is CB(y) = $10,000y. Employees will be offered $50,000 if they have where y* is an education threshold determined by the employer. They will be offered $130,000 if they have An employer who only wants to hire individuals who find learning less costly can do so by choosing y* to be anywhere between:Children in poor neighborhoods have bleak outlooks on life and do not see much gain to studying. A recent experiment is paying children in poor neighborhoods $100 for each “A” they earn in a six-week grade reporting cycle. How does this affect the children’s behavior?
