When talking about compensating wage differentials and the market for risky jobs, we assume that the marginal utility of risk is positive O negative zero
Q: 2. From the data in Table 5.6 about supply of alarm clocks, calculate the price elasticity of supply...
A: 1) Price elasticity of supply between J and K:- ES=∆Q∆P×PQ =(Q2-Q1)(P2-P1)×P1Q1 =70-509-8×85...
Q: Discuss The intrinsic value of goods among the physiocrats.
A: An intrinsic theory of value is a theory that says the value of an object, goods, and services is in...
Q: Required information MPC = 0.9; MPM = 0.2 Refer to the above information to answer this question. W...
A: The marginal propensity to earn, (MPE), is a difference between MPC and MPM
Q: What is the amount of the quarterly deposits A such that you will be able to withdraw the amounts sh...
A: Given: The interest rate is = 11% compounded quarterly The amount at 4th quarter is = $1,200 The amo...
Q: 5. This is the sequel to a question on the previous P-set that used this aggregate production functi...
A: Given production function Y=A×K×L For A=2 and K=3 Y(L)=23×L ... (1) For ...
Q: Suppose that there are two types of workers: high and low. Employers cannot distinguish between diff...
A: Two wage rates are given:- $200,000 and $100,000 for high and low type worker Reservation wages are ...
Q: Economics Explain and illustrate (with a graph), the Lewis "Two Sector Model". and How does this rel...
A: In development economics, the dual-sector model is a model. After its creator, W. Arthur Lewis, it i...
Q: Rewrite it
A: The article is about the PPF. PPF refers production possibility frontier, which is also known as the...
Q: 3 Suppose o and I play the game veck-paper- scisser twice Xesume mixed stratejos (ran domi zng ng th...
A: Rock paper scissor game is associated with payoff such that : => Simultaneous game . => If bot...
Q: A television station would like to hold a two-day marathon of a police procedural show. They post a...
A: In the Copeland Method : 1 .) Firstly we compare the alternative in pairs . 2. ) Then we compare ran...
Q: 2. What can cause inflation according to Keynes? a. increase in money supply b. increase in unit lab...
A: When talking about Keynesian economics, it explains the economic theory that rely on the fluctuation...
Q: In the graph, consumer surplus is equal to S 16 D O $6 O $14 O $20 O $60 20 22 2.
A: Consumer surplus is the difference between willingness to pay for a good and its actual price.
Q: How do laws and politics affect the trade between states?
A: Worldwide alternate laws create the rules that international locations and groups need to comply wit...
Q: ase go to www.federalreserve.gov e and briefly describe the structure of the U.S. Federal Reserve sy...
A: The central banking system of the United States of America is known as the Federal Reserve System. I...
Q: xplain the difference between positive and normative economics with example.
A: Positive economics is defined as a stream of economist which focuses on quantification, identificati...
Q: There are two types of residents in the Maine cities of Kittery and York, wealthy retirees and middl...
A: Utility of wealthy : Uw = 20S0.5 + 8S Utility of Middle Class : Um = 40S0.5 + 5S Optimal demand / ...
Q: a. What is the "particular form of price elasticity" that Moore's Law is said to have? b. Give a bri...
A: Step 1: Price elasticity: Price elasticity is an estimation of the adjustment of the utilization of ...
Q: John quit his part-time job as a teacher earning AUD 40,000 per year to start his own food kiosk bus...
A: Formula to calculate:- Accounting Profit:- Accounting Profit=Total revenue-Explicit Cost Economic Pr...
Q: Explain the term Relative advantage?
A: When talking about the term relative advantage, it is an economy term that is to explain the competi...
Q: After the Seattle 1999 World Trade Organisation Ministerial Conference there were many demonstration...
A: IMF: The International Monetary Fund (IMF) is an association of 190 nations, attempting to cultivate...
Q: Assume that the total hours of work in Mexico are 200 in the year 2019 and the productivity is $8 pe...
A: Given Total hours of work in 2019 =200 Productivity =$8 Per hour worked. Total hours of work in 202...
Q: Two of the economy's most important financial intermediaries are suppliers of funds and demanders of...
A: Financial intermediary refers to an organisation that helps investors to provide money to individual...
Q: The table above provides three critical production output factors: number of workers, the marginal p...
A: MPL is the marginal product of labor which is the additional output produced by employing an unit of...
Q: Provide three characteristics that prevent health care markets from allocating resources efficiently...
A: We have show that ,The healthcare industry is a multibillion-dollar industry in the USÀ that provid...
Q: Do undocumented immigrants overall represent a net economic cost or benefit to the United States?
A: Immigration:- The global movement of individual to a target nation where they will not be natives a...
Q: Which of the following statements correctly describe discouraged workers? (If none of the choices ap...
A: Unemployment refers to the situation where a person who is ready to work does not have work is not a...
Q: A concrete and rock crusher for demolition work has been purchased for S67,000, and it has an estima...
A: Here we calculate the depreciation allowance in year three and book value (BV) at the end of year th...
Q: Y YA Ys XA Xs The graph above represents the PPF for two goods X and Y Which of the points is most b...
A: The answer is - A, B
Q: We will loosely model the petrol crisis the UK has recently experienced as a game. Start with a two-...
A: There are two players : Player 1 & 2 Strategy Set of player1 = Strategy Set of player 2 = { Nor...
Q: what is the impact of Rice Tariffication Law to the agricultural modernization in the country
A: Rice tarrification law eliminated the monopoly of the National Food Authority which was dominated on...
Q: 4. The profit function of Firm GG is n=-2q2+280q. What is the profit maximizing quantity?What is the...
A: Given: Profit function, p=-2q2+280q
Q: Dividends and pensions can provide liquidity to investors * True or False?
A: Dividends and pensions can provide liquidity to investors. - TRUE
Q: 3. Effects of rent control Part 2 Rent controls force landlords to price apartments below the equili...
A: When there is rent control in an economy that forces landlords to price apartments below the equilib...
Q: 11. Consider the growth model diagram below. If an economy starts with 12 units of capital (labeled ...
A: At 12 units of capital, I>dK. Since investment is greater than depreciation, the economy grows.
Q: In a __________ marriage, both husband and wife are in the labor market.
A: There are two type of marriages 1. civil 2.religious
Q: You want to establish your own business and are thinking about releasing a new product. Customers wi...
A: Profit = TR - TC Breakeven occurs if the profit is 0 and TR=TC
Q: O Suppose and I pky the and I play the game reck-paper - sci ssor twice Xrsume mixed stratojos (ran ...
A: Assuming Rock - R, Paper - P, Scissors - S Total number of possible outcomes in one game = 3 ( R, P,...
Q: Define inflation, it's types, sources of inflation? What intervention measures are taken by the gove...
A: Inflation:- Inflation can be explained as the overall, steady rise in the price of items in an econo...
Q: Q 2. Consider the case of Pakistan the small open economy, in the following situations how the nomin...
A: a. Businesses would ultimately fail and employees would be laid off. There would be no one for the g...
Q: Refer to Table 6.5 to answer this question. What is the value of the multiplier in this economy? Mu...
A: In economics, a multiplier generally refers to an economic factor that induces or adjusts many other...
Q: Which of the following correctly describes imperfect information? Select the correct answer below: a...
A: Imperfect information is a part of asymmetric information and it leads to market failure.
Q: In your response, be sure to address all parts of the question. Use complete sentences; an outline o...
A: Economic policies: The economic policy is an approach alludes to the moves that state run administra...
Q: You want to establish your own business and are thinking about releasing a new product. Customers wi...
A: The payment of 1800000 is spread over three years and every month over these three years so each mon...
Q: demand curve in market 1 is p1 = 200 – y1. The inverse demand curve in market 2 is p2 = 400 – y2. Th...
A: The optimal price is the price at which a seller can make the most profit. In other words, the price...
Q: Question 4 OCP is the monopoly seller of Soma with a constant marginal cost of production of $1 a un...
A: A two-part tariff is a type of price discrimination in which the price of the goods or service is di...
Q: What is “B.O.P”? Explain the importance of “Balance of Payments” to Managers of Public and Private ...
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any ...
Q: Based on the content presented in this chapter, answer what the following items request: a. Commen...
A: a. There are relationship between productivity and exchange rate. Increasing labour productivity lea...
Q: which statement is correct If a good is not being produced by sellers with the lowest cost, then th...
A: Profit Maximization level: The level of production that maximizes the profit of the firm or the leve...
Q: Which of the following situations would lead to actual inflation of 3%? A. future inflation is 1%; o...
A: The rate at which a basket of selected goods and services in an economy's average price level rises ...
Q: A concrete pavement on a street would cost $10,000 and would last for 5 years with negligible repair...
A:
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Will a free market tend to encourage or discourage discrimination? Explain briefly.Does a gap between the average earnings of men and women, or between whites and blacks, prove that employers are discriminating in the labor market? Explain briefly.Here is one hypothesis: A well-funded social safety net can increase economic equality but will reduce economic output. Explain why this might be so, and sketch a production possibility curve that shows this tradeoff.
- What is a compensating wage differential? Discuss whether or not we observe such differentials in life. Further discuss, whether a compensating wage differential can actually “compensate” associated risks.What is the value of a worker's life if her compensating differential is $20,000 for a job that has a 2% higher risk of death each year?14.ASsume the labor force is made up of 40% women and 60% men. If 40% of all manufacturing jobsare held by women and 90% of the highest-paying management and executive level jobs inManufatacturing are held by men, then, with respect to the manufacturing sector, it can be said that: multiple choiceO.a. there is no horizontal occupational segregation but there is vertical occupational segregation. O.b. there is both horizontal and vertical occupational segregation.O.c. there is no sex-based discrimination in entry-level By solving it for 'r' through hit and trial method, the required interest rate can be found.positions but there is sex-based discriminationin management level positions.O.d. there is no sex-based discrimination in management positions but there is sex-baseddiscrimination in executive level positions.
- For any given job, how do the economy-wide labour market conditions affect aworker’s bargaining power? Explain which labour market variable you would look at toassess labour market conditions.Derive the utility function of a worker who is aiming to maximize his utility in the market for risky jobs. Explain and illustrate graphically how this worker will be making his choice among different alternatives of risk/wage combinations.Imagine that the wage-schooling locus is given by w(s)=s^(1/3). What will be the optimal level of education for an individual to take if next period’s earnings in any given time are worth 95% of current earnings for that individual? Answer is s=20/57 I need step by step calculations
- After controlling for age and education, it is found that the average woman earns $0.80 for every $1.00 earned by the average man. After controlling for occupation to control for compensating differentials (i.e., maybe men accept riskier or more stressful jobs than women, and therefore are paid more), the average woman earns $0.92 for every $1.00 earned by the average man. The conclusion is made that occupational choice reduces the wage gap 12 cents and discrimination is left to explain the remaining 8 cents.a. Explain why discrimination may explain more than 8 cents of the 20-cent differential (and occupational choice may explain less than 12 cents of the differential).b. Explain why discrimination may explain less than 8 cents of the 20-cent differential.16) If labour market discrimination crowds women into a limited number ofoccupations so that the number of occupations available to men increases, then(a) the wages of men will be lower, but the marginal productivity of men will be higherthan it otherwise would be.(b) both the wages and the marginal productivity of men will be higher than theyotherwise would be.(c) both the wages and the marginal productivity of men will be lower than theyotherwise would be.(d) wages of men will be higher, but the marginal productivity of men will be lowerthan it otherwise would be.You are considering hiring an employee whose marginal revenue product will be $17 per hour, and the market wage for such workers is $15 per hour. You should Select one: a. hire the worker, but agree to pay her $19 per hour. b. not hire the worker since the marginal revenue product is too high. c. not hire the worker because the gap between marginal revenue product and the wage is not large enough. d. hire the worker at the market wage.