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Imagine a world populated by superior and inferior workers. A superior worker is worth $50 per hour to any employer, and an inferior worker is worth only $20 an hour. These people work for exactly 10 hours and then retire. Let s be the proportion of superior workers, and (1-s) the proportion of inferior workers. Assume that in the labour market equilibrium, workers are paid their expected worth.
Suppose no firm can distinguish superior from inferior workers. Write down the expression determining the common wage, and explain it.
Now suppose that a degree costs superior workers $200 and that it is simply impossible for an inferior worker to earn a degree.
A poll was taken this year asking college students if they considered themselves overweight. A similar poll was taken five years ago.
Is the use of oracles an example of a "profane" or "sacred" activity? Explain Bronislaw Malinowski's notions of the "sacred" and the "profane
The returns of Stock A and Stock B are independent of one another, i.e., the correlation coefficient between them is zero, Which of the following is correct?
Deep Waters, Inc is using the internal rate of return (IRR) when evaluating projects. Find the IRR for the company's project.
The standard for extreme poverty was established at one dollar per day per person in 1985. if inflation was 2% year, how many dollars per day do the people in extreme poverty make now?
According to the BLS, the CPI rose 3.8% in August of this year compared to a year earlier. Food prices rose 4.6% and clothing prices were up 4.2%, while new car prices rose 3.8%, and medical care was up 3.2%. What percentage change in the CPI up unti..
Suppose that the aggregate consumption function is given by the equation: C = 200 + 0.8 YD, where C represents consumption and YD represents disposable income.
Calculate the gini coefficient and the coefficient of variation for each of the following distributions. [Hint: It will save significant time if you make use of the inequality principles (population, relative income, etc.) to simplify where possible...
What factors determine the geographic extent of political control - the size of what we would now call the "state"?
Federal excise taxes on gasoline vary widely across the developed world. The United States has the lowest taxes at USD $0.40 per gallon (or £0.07 per liter); Canada has taxes of $0.60 per gallon, Japan and much of Europe is $2.00 per gallon, while Br..
q.why have generic drug companies been so successful? explain what political conditions also economic conditions would
Discuss the ways in which How Proposed Trump Tax Cuts Will Affect a Trump presidency might have an effect on a firm whose headquarters are in New York.
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