Economics For Today
10th Edition
ISBN: 9781337613040
Author: Tucker
Publisher: Cengage Learning
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Chapter 12.5, Problem 1.1YTE
To determine
Welfare reforms.
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Some MPs believe that there is a causal relationship between earnings and years of schooling. They show you an estimate of the impact of years of schooling on annual earnings: There are two groups of individuals – group 1 and group 2. Group 1 on average earns £60,000 per year with the average level of post-compulsory education of 6 years, while group 2 earns on average £40,000 with the average post-compulsory education of 4 years. The MPs conclude that the annual return to an additional year of education is 25% using the following equation [(£60,000-£40,000)/40,000]/(6-4)=25%. Ignoring time preferences and discounting, and if both groups face the same cost of schooling, you need to explain to the MPs why this is not a good estimate of the annual return to an additional year of education. Propose methods to the MPs to deal with the problem. (300 words)
Statistical discrimination or "rational discrimination" means the following:
Group of answer choices
Statistics regarding discrimination is routinely falsified.
When the statistical concept of "averages" is used to set higher auto insurance rates for a 19-year-old than for a 40-year old, even if the 19-year old is a better driver than the 40-year old one.
Statistics are routinely used selectively with the specific purpose of discriminating against ethnic minorities.
It is discriminatory to use statistics to understand social conditions.
TRAITS OF LEADERS
Leaders possess traits and skills that make them successful. They are effective communicators, skillful planners, and successful motivators. Leaders can be villains or heroes. This exercise examines the skills displayed by famous leaders and allows students to use this knowledge to improve their leadership skills.
SUPERVISORY ABILITY, NEED FOR ACHIEVEMENT, INTELLIGENCE, DECISIVENESS, SELF-ASSURANCE, and INITIATIVE
Hitler and Martin Luther King are the two leaders that need to be compared and contrasted. Then profile them in terms of their skills and traits.
Questions to answer for the Discussion (answer in 2-3 sentences)
1) What criteria did your group use to determine which two leaders you would profile? Describe.
2) In what ways are the leadership styles of these leaders similar? In what ways are they different? Explain.
3) Were you surprised at the similarity or dissimilarity between these leaders? Discuss.
4) Which one of these leaders would you want to…
Chapter 12 Solutions
Economics For Today
Ch. 12.2 - Prob. 1YTECh. 12.2 - Prob. 2YTECh. 12.5 - Prob. 1.1YTECh. 12.5 - Prob. 2.1YTECh. 12 - Prob. 1SQPCh. 12 - Prob. 2SQPCh. 12 - Prob. 3SQPCh. 12 - Prob. 4SQPCh. 12 - Prob. 5SQPCh. 12 - Prob. 6SQP
Ch. 12 - Prob. 7SQPCh. 12 - Prob. 8SQPCh. 12 - Prob. 9SQPCh. 12 - Prob. 10SQPCh. 12 - Prob. 11SQPCh. 12 - Prob. 1SQCh. 12 - Prob. 2SQCh. 12 - Prob. 3SQCh. 12 - Prob. 4SQCh. 12 - Prob. 5SQCh. 12 - Prob. 6SQCh. 12 - Prob. 7SQCh. 12 - Prob. 8SQCh. 12 - Prob. 9SQCh. 12 - Prob. 10SQCh. 12 - Prob. 11SQCh. 12 - Prob. 12SQCh. 12 - Prob. 13SQCh. 12 - Prob. 14SQCh. 12 - Prob. 15SQCh. 12 - Prob. 16SQCh. 12 - Prob. 17SQCh. 12 - Prob. 18SQCh. 12 - Prob. 19SQCh. 12 - Prob. 20SQ
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