Question 8Brightly colored emergency vehicles use this to get people's attention:O perspectiveO motionO perceptual setO vividnessO none of theseQuestion 9Hertzberg's two factors in his theory of motivation are caled:Motivators and hygieneO Modifiers and satisfiersO Motivators and modifersO Hygiene and satishcersO All of the aboveQuestion 10According to equity theory.O People compare their pay to that of similar employeesMoney is not the prime motivator-fairmess isO Money is the primary motivatorO People have little knowledge of others' pay, so faimess doesn't matterO All of the above

8. Vividness refers to an innate ability of an individual to notice bright and alluring images or…

Question 8 Brightly colored emergency vehicles use this to get people's attention: perspective O motion O perceptual set O vividness O none of these Question 9 Hertzberg's two factors in his theory of motivation are called: O Motivators and hygiene Modifiers and satisfiers O Motivators and modifhers Hygiene and satishcers All of the above Question 10 According to equity theory. O People compare their pay to that of similar employees Money is not the prime motivator-faimess is Money is the primary motivator O People have little knowledge of others' pay, so faimess doesn't matter O All of the above

Question 8 Brightly colored emergency vehicles use this to get people's attention: perspective O motion O perceptual set O vividness O none of these Question 9 Hertzberg's two factors in his theory of motivation are called: O Motivators and hygiene Modifiers and satisfiers O Motivators and modifhers Hygiene and satishcers All of the above Question 10 According to equity theory. O People compare their pay to that of similar employees Money is not the prime motivator-faimess is Money is the primary motivator O People have little knowledge of others' pay, so faimess doesn't matter O All of the above

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter15: Poverty And Economic Inequality

Section: Chapter Questions

Problem 3SCQ: Imagine that the government reworks the welfare policy that was affecting Jonathan in question 1, so...

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Imagine that the government reworks the welfare policy that was affecting Jonathan in question 1, so that for each dollar someone like Jonathan earns at work, his government benefits diminish by only 30 cents. Reconstruct the table from question 1 to account for this change in policy. Draw Jonathans labor-leisure opportunity sets, both for before this welfare program is enacted and after it is enacted.
1. Second Fundamental Theorem of Welfare Economicsa. Describe the theorem, making sure that you define clearly the terms used in thedescription (e.g. if you use the term “efficient” you have to describe what this means).b. Explain why the theorem implies that there is no intrinsic trade-off between efficiencyand interpersonal equity. c. Demonstrate your argument using an Edgeworth box, making sure that you describe allthe elements of the box appropriately.
Consider a worker who earns $20/hour in the labor market and receives $50 per week innon-labor income. Assume the total number of hours available for work (h) and leisure(L) is 168 hours per week (i.e., ? = 168 = ℎ + ?). a. Draw the budget constraint for this individual. Label the endowment point. b. What is the maximum value of consumption that this individual could achieve ina week? c. In the United States, the Fair Labor Standards Act requires workers to be paid 1.5times their usual hourly wage for “overtime” work, defined as work in excess of40 hours in a week. If this law applies to the worker described above, how does itchange the budget constraint? d. Now suppose Congress passes an income tax. The income tax applies to labor andnon-labor income. The Fair Labor Standard Act is still in effect. The first $1,000in weekly income is exempt from the tax. However, every dollar above $1,000 istaxed at a rate of 10%. (To be clear: the tax on $1,000 in income is 0, the tax on$1,001 is…
Suppose the administration of a University that is located a high-crime urban area mustdecide on a policy to increase policing on its campus. The student population is 10,500 students but iscould increase if crime is reduced. The cost of added policing in terms of additional salary and equipmentis estimated to be $2.4 million per year. Suppose the administration plans to make their decision with thehelp of a benefit cost analysis of the policy. VSL is $11.8 million a. Explain how the concept of Value of a Statistical Life might factor into a benefit cost analysis of thispolicy. b. How many lives would need to be save to justify the added policing costs if only prevented deathswere considered as the policy benefit? c. Suppose it is believed that student enrollment will increase in the future if crime on campus is reduced.Write a formula to calculate the present value of benefits of policing if student enrollment increases by4% each year.
6 Assume you can work as many hoursyou wish at £12 per hour (net of tax). If you do not work you have noincome. You have no ability to borrow or lend, so your consumption,c , is simply equal to your income. d) Now assume that you receive an income of £140 per week from anunknown benefactor. Show the impact on your feasible set and show anew optimal choice in which consumption increases but labour supplydecreases. Using the concept of the marginal rate of substitution, explainwhy this is a likely outcome. Please illustrate on a diagram so I can better understand it please thank you.
Second Fundamental Theorem of Welfare Economics a. Describe the theorem, making sure that you define clearly the terms used in the description (e.g. if you use the term “efficient” you have to describe what this means). b. Explain why the theorem implies that there is no intrinsic trade-off between efficiency and interpersonal equity. c. Demonstrate your argument using an Edgeworth box, making sure that you describe all the elements of the box appropriately.
6 Assume you can work as many hoursyou wish at £12 per hour (net of tax). If you do not work you have noincome. You have no ability to borrow or lend, so your consumption,c , is simply equal to your income. d) Now assume that you receive an income of £140 per week from anunknown benefactor. Show the impact on your feasible set (nb : be morecareful than Stephen was in his diagrams in Autumn Week 5!), and show anew optimal choice in which consumption increases but labour supplydecreases. Using the concept of the marginal rate of substitution, explainwhy this is a likely outcome.e)Now assume that, starting from the optimal point in d), your wageincreases to £18 per hour. Explain why the impact of this change isambiguous, and relate to the longrun historical experience of wagegrowth in rich countries. Please help me solve 6 e and illustrate on a diagram so I can better understand it please thank you.
You found your utility preference given by U (w, d) = w√d where w is your wage, and d is the amountof noise (ie - decibels) you must listen to at your job. Let’s assume you have the option to workat home in silence (where d = 36), in a cubicle office (where d = 64), or in an open-air sharedworkspace (where d = 100). Further assume the economy is in equilibrium, and you do not haveincentive to change jobs.(a) Assuming working at home gives you a wage of $100, what would your wage be working in thecubicle office? In the shared workspace?(b) What is the compensating wage differential between these jobs?(c) Explain why the wage is different in each situation, and give an example of another indus-try/situation with a compensating wage differential.
1. Write down an exchange economy model with two individuals and two goods, in whichthere is no consumption externality. State and explain the key assumptions of the model.Using the model, answer the following questions:(a) Explain carefully how the concept of Pareto efficiency differs from that of socialwelfare.(b) State the Second Theorem of Welfare Economics and explain carefully why it holds.What is the importance of the assumption of convex preferences to this theorem?
Suppose there was a debate regarding how to spend $1 billion in newly found revenues in the budget. Suppose the most liberal Democrat suggests an increase to Food Stamp (SNAP) allotments. Suppose the most conservative Republican suggests an increase in defense spending. The Republican says that, on average, military spending does the most good, so more is better. The Democrat is arguing that the extra food purchased by the extra spending will increase well-being the most. What is going on here? A . Both are employing marginal analysis, just from different perspectives. B. Only the Democrat is using marginal analysis. C. Only the Republican is using marginal analysis. D. Neither are using marginal analysis.
)ncob buys only milk and cookies.a. In yeor 1, Jocob earns $100, milk costs $2 perqua rt, and cooki es cost S4 per dozen. Ora\"•jacob's budget constraint.b. Now suppose that a ll prices increase by10 percent in yeor 2 ond !hot jacob's salaryincreases by 10 percent as well. Draw jacob'sn<:w budget constraint. How would Jacob'soptimnl combination of milk and cookies in year 2compare to his optimal combination in year 17
Suppose there are two goods, co ee (C) and tea (T). The consump-tion set is R2+, so both goods can be consumed in arbitrary non-negativequantities.Abdul owns 2000 grams of co ee but does not own any tea. He hasno other wealth. The price of co ee is pC = 2 (in Dhs per gram) andthe price of tea is pT > 0 (in Dhs per gram). Abdul can sell co ee toearn income, which he can then use to buy tea or co ee. He can alsothrow co ee away (at no cost).Abdul's preferences can be represented by the utility functionu(c; t) = -(800 - c)2 - (800 - t)2;where c is the quantity of co ee (in grams) and t is the quantity of tea(in grams).(a) In separate diagrams, illustrate (i) the map of Abdul's indi erencecurves, (ii) Abdul's constraint set.(b) How much co ee and tea does Abdul decide to consume when (i)pT = 2, (ii) pT = 3, and (iii) pT = 4?(c) Illustrate Abdul's demand for co ee as a function of the price of tea (pT > 0) in an appropriate diagram.