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Since the replacement of AFDC with TANF the welfare rolls have grown in the United States. O True False
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- Determine a general condition that makes workers want to separate themselves using education as a signal. That is, find a condition that makes high-ability workers want to go to college while low-ability workers do not. Given the wages and costs for both types of workers (wh = 20,wl =16,ch = 2, and cl = 5) and the proportion of high-ability workers in the population (0 = 0.25), does the condition hold? What wages are paid to each type of worker? (a) The condition holds; firms pay wh = $20 and wl = $16 (b) The condition holds; firms pay wh = $18 and wl = $11 (c) The condition does not hold; firms pay wh = $20 and wl = $16 (d) The condition does not hold; firms pay wh = wl = w = $17Explain the term multicolllinearityA significantly larger proportion of higher social class children attend college than lower-class children. This islargely due to differences in ability among social classes. T or F?
- Wat does inelastic means(SW 7.10) Show that the two alternative formulas below for the homoscedasticity-only F-statistic are equivalent. F = (SSRrestricted − SSRunrestricted) /q SSRunrestricted/ (n − kunrestricted − 1) (equation 7.13 in SW) F = R2 unrestricted − R2 restricted /q (1 − R2 unrestricted) / (n − kunrestricted − 1) (equation 7.14 in SW)The random control trials (RCT) or random experiment (RE) method adopted from the medical world by development economics is currently believed to be the best method in understanding poverty and inequality and finding solutions to solve them. Critically explain the views of proponents of this RCT by also briefly describing the method.
- Suppose the rural wage is $1 per day. Urban modern sector employment can be obtained with 5% probability and pays $2 per day. Will there be any rural-urban migration? Explain your reasoning, stating explicitly any simplifying assumptions, and show all work.17 Medicaid work disincentive effffects. Consider Figure 18.7, which depicts the labor market disincentive effffects of Medicaid. In the fifigure: L is the number of hours worked per year. ¯I is the income threshold for Medicaid eligibility. If a worker earns less than I¯, he is eligible for C free units of health care, which cost p per unit on the open market. The solid line indicates the total compensation (wage plus Medicaid benefifits) that a worker earns as a function of L, hours worked. The slope of the solid line reflflects the hourly wage. a. The interval from L1 to L2 is called the Medicaid notch or, less colorfully, the Medicaid work disincentive region. Explain why an individual does not elect to work between L1 and L2 hours. Figure 18.7. The Medicaid notch.(Imaged is attached) b. In this model, the value of Medicaid to the worker is set to the price of health care times the quantity of health care transferred (pC). Is pC more than, less than, or equal to the value…Suppose Bethilda earned $30,000 at her last job where she faced a 3% chance of dying on the job. Now Bathilda earns $27,000 at a new job where she faces a 2% chance of dying on the job. What is Bethilda’s implied Value of a Statistical Life? What are the uses of this measure?
- An advantage of the Multidimensional Poverty Index (MPI) over the Human Poverty Index (HPI) is that: (a) It adds up separate deprivations for the whole country, then takes averages, and then combines them. (b) It provides the sum of the difference between the poverty line and actual income levels of all people living below that line. (c) It gives the proportion of a country’s population living below the poverty line. (d) It takes into account that there are negative interaction effects when people have multiple deprivationsIn the United States, the average household in the top quintile (of total money income) contains fewer per True FalseLabor economists studying the determinants of women’s earnings discovereda puzzling empirical result. Using randomly selected employedwomen, they regressed earnings on the women’s number of children anda set of control variables (age, education, occupation, and so forth). Theyfound that women with more children had higher wages, controlling forthese other factors. Explain how sample selection might be the cause ofthis result. (Hint: Notice that women who do not work outside the homeare missing from the sample.) [This empirical puzzle motivated JamesHeckman’s research on sample selection that led to his 2000 Nobel Prizein Economics. See Heckman (1974).]