Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

Question

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Answer 1

Question

Chapter 3, Problem 1P

A

To determine

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

A

Expert Solution

Explanation of Solution

The opportunity cost for a mother who chooses/decides not to work outside the home will be high if there are higher levels of education for women. This is because higher levels of education will ensure higher earnings for the women, thus the amount of earnings forgone by staying at home will increase for mothers, thus increased opportunity costs.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

B

To determine

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

B

Expert Solution

Explanation of Solution

If the unemployment rates are higher, then there will be a decline in the opportunity costs for staying at home. Higher unemployment rates will mean lesser opportunity of getting a job, and therefore lower opportunity cost.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

C

To determine

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

C

Expert Solution

Explanation of Solution

The opportunity cost for forgoing job opportunities for staying at home will be higher if the average earnings of the women are higher as they will have to forgo higher amount of money.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

D

To determine

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

D

Expert Solution

Explanation of Solution

Lower demand for labor in industries that traditionally employ women will imply lower chances for women to get a job in the industry. Since they will not be able to get a job, the opportunity cost for staying at home is decreases in comparison to working.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

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Students have asked these similar questions

Determine whether each of the following would increase or decrease the opportunity costs for mothers who decide not to work outside the home. Explain your answers. Higher levels of education for women Higher unemployment rates for women Higher average pay levels for women Lower demand for labor in industries that traditionally employ women Many households supplement their food budget by cultivating small vegetable gardens. Explain how each of the following might influence this kind of household production: Both husband and wife are professionals who earn high salaries. The household is located in a city rather than in a rural area. The household is located in a region where there is a high sales tax on food. The household is located in a region that has a high property tax rate.

Would the owner of a profit-maximizing clothing store hire another worker for $85 per day if that worker added faster service, increasing sales and revenue by $80 per day? Why or why not? Explain your answer.

Which of the following is likely to shift the labor supply curve to the right, assuming all else equal? A rise in the wage rate A fall in the wage rate A rise in the immigration of workers in search of better work opportunities A fall in the population of a country due to a natural disaster

Answer 2

Question

Chapter 3, Problem 1P

A

To determine

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

A

Expert Solution

Explanation of Solution

The opportunity cost for a mother who chooses/decides not to work outside the home will be high if there are higher levels of education for women. This is because higher levels of education will ensure higher earnings for the women, thus the amount of earnings forgone by staying at home will increase for mothers, thus increased opportunity costs.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

B

To determine

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

B

Expert Solution

Explanation of Solution

If the unemployment rates are higher, then there will be a decline in the opportunity costs for staying at home. Higher unemployment rates will mean lesser opportunity of getting a job, and therefore lower opportunity cost.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

C

To determine

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

C

Expert Solution

Explanation of Solution

The opportunity cost for forgoing job opportunities for staying at home will be higher if the average earnings of the women are higher as they will have to forgo higher amount of money.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

D

To determine

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

D

Expert Solution

Explanation of Solution

Lower demand for labor in industries that traditionally employ women will imply lower chances for women to get a job in the industry. Since they will not be able to get a job, the opportunity cost for staying at home is decreases in comparison to working.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 3, Problem 1P

A

To determine

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

A

Expert Solution

Explanation of Solution

The opportunity cost for a mother who chooses/decides not to work outside the home will be high if there are higher levels of education for women. This is because higher levels of education will ensure higher earnings for the women, thus the amount of earnings forgone by staying at home will increase for mothers, thus increased opportunity costs.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

B

To determine

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

B

Expert Solution

Explanation of Solution

If the unemployment rates are higher, then there will be a decline in the opportunity costs for staying at home. Higher unemployment rates will mean lesser opportunity of getting a job, and therefore lower opportunity cost.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

C

To determine

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

C

Expert Solution

Explanation of Solution

The opportunity cost for forgoing job opportunities for staying at home will be higher if the average earnings of the women are higher as they will have to forgo higher amount of money.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

D

To determine

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

D

Expert Solution

Explanation of Solution

Lower demand for labor in industries that traditionally employ women will imply lower chances for women to get a job in the industry. Since they will not be able to get a job, the opportunity cost for staying at home is decreases in comparison to working.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 3, Problem 1P

A

To determine

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

A

Expert Solution

Explanation of Solution

The opportunity cost for a mother who chooses/decides not to work outside the home will be high if there are higher levels of education for women. This is because higher levels of education will ensure higher earnings for the women, thus the amount of earnings forgone by staying at home will increase for mothers, thus increased opportunity costs.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

B

To determine

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

B

Expert Solution

Explanation of Solution

If the unemployment rates are higher, then there will be a decline in the opportunity costs for staying at home. Higher unemployment rates will mean lesser opportunity of getting a job, and therefore lower opportunity cost.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

C

To determine

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

C

Expert Solution

Explanation of Solution

The opportunity cost for forgoing job opportunities for staying at home will be higher if the average earnings of the women are higher as they will have to forgo higher amount of money.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

D

To determine

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

D

Expert Solution

Explanation of Solution

Lower demand for labor in industries that traditionally employ women will imply lower chances for women to get a job in the industry. Since they will not be able to get a job, the opportunity cost for staying at home is decreases in comparison to working.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 3, Problem 1P

A

To determine

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

A

Expert Solution

Explanation of Solution

The opportunity cost for a mother who chooses/decides not to work outside the home will be high if there are higher levels of education for women. This is because higher levels of education will ensure higher earnings for the women, thus the amount of earnings forgone by staying at home will increase for mothers, thus increased opportunity costs.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

B

To determine

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

B

Expert Solution

Explanation of Solution

If the unemployment rates are higher, then there will be a decline in the opportunity costs for staying at home. Higher unemployment rates will mean lesser opportunity of getting a job, and therefore lower opportunity cost.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

C

To determine

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

C

Expert Solution

Explanation of Solution

The opportunity cost for forgoing job opportunities for staying at home will be higher if the average earnings of the women are higher as they will have to forgo higher amount of money.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

D

To determine

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

D

Expert Solution

Explanation of Solution

Lower demand for labor in industries that traditionally employ women will imply lower chances for women to get a job in the industry. Since they will not be able to get a job, the opportunity cost for staying at home is decreases in comparison to working.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

Answer 6

Chapter 3, Problem 1P

A

To determine

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

A

Expert Solution

Explanation of Solution

The opportunity cost for a mother who chooses/decides not to work outside the home will be high if there are higher levels of education for women. This is because higher levels of education will ensure higher earnings for the women, thus the amount of earnings forgone by staying at home will increase for mothers, thus increased opportunity costs.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

Answer 7

Chapter 3, Problem 1P

A

To determine

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

Answer 8

A

Expert Solution

Explanation of Solution

The opportunity cost for a mother who chooses/decides not to work outside the home will be high if there are higher levels of education for women. This is because higher levels of education will ensure higher earnings for the women, thus the amount of earnings forgone by staying at home will increase for mothers, thus increased opportunity costs.

Answer 9

A

Expert Solution

Answer 10

A

Expert Solution

Answer 11

Expert Solution

Answer 12

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

Answer 13

B

To determine

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

B

Expert Solution

Explanation of Solution

If the unemployment rates are higher, then there will be a decline in the opportunity costs for staying at home. Higher unemployment rates will mean lesser opportunity of getting a job, and therefore lower opportunity cost.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

Answer 14

B

To determine

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Answer 15

B

Expert Solution

Explanation of Solution

If the unemployment rates are higher, then there will be a decline in the opportunity costs for staying at home. Higher unemployment rates will mean lesser opportunity of getting a job, and therefore lower opportunity cost.

Answer 16

B

Expert Solution

Answer 17

B

Expert Solution

Answer 18

Expert Solution

Answer 19

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

Answer 20

C

To determine

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

C

Expert Solution

Explanation of Solution

The opportunity cost for forgoing job opportunities for staying at home will be higher if the average earnings of the women are higher as they will have to forgo higher amount of money.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

Answer 21

C

To determine

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Answer 22

C

Expert Solution

Explanation of Solution

The opportunity cost for forgoing job opportunities for staying at home will be higher if the average earnings of the women are higher as they will have to forgo higher amount of money.

Answer 23

C

Expert Solution

Answer 24

C

Expert Solution

Answer 25

Expert Solution

Answer 26

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

Answer 27

D

To determine

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

D

Expert Solution

Explanation of Solution

Lower demand for labor in industries that traditionally employ women will imply lower chances for women to get a job in the industry. Since they will not be able to get a job, the opportunity cost for staying at home is decreases in comparison to working.

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

Answer 28

D

To determine

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Answer 29

D

Expert Solution

Explanation of Solution

Lower demand for labor in industries that traditionally employ women will imply lower chances for women to get a job in the industry. Since they will not be able to get a job, the opportunity cost for staying at home is decreases in comparison to working.

Answer 30

D

Expert Solution

Answer 31

D

Expert Solution

Answer 32

Expert Solution

Answer 33

Economics Concept Introduction

Introduction:

Opportunity Costs: It is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

Answer 34

Ch. 3 - Prob. 1P Ch. 3 - Prob. 2P Ch. 3 - Prob. 3P Ch. 3 - Prob. 4P Ch. 3 - Prob. 5P Ch. 3 - Prob. 6P Ch. 3 - Prob. 7P Ch. 3 - Prob. 8P Ch. 3 - Prob. 9P Ch. 3 - Prob. 10P

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

Explanation of Solution

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Explanation of Solution

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Explanation of Solution

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Explanation of Solution

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Chapter 3 Solutions