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Labor market class:
1. Carefully explain how the following hypothetical situations would affect the cost-benefit calculation of going to college:
2. It is claimed that employers are reluctant to hire women for some jobs because of their higher expected quit rates. Assuming women are more likely to quit, use human capital theory to explain what kind of jobs an employer would be especially reluctant to hire women for. Explain the reasons for the employer's reluctance. How valid do you think such employer assumptions about women are today?
Illustrate what entity establishes a cost ceiling and does it require government sanction for violators. Will it result in a surplus or a shortage.
Wilpen plans to charge a wholesale price of $1.65 per can. As the average value of tennis racket is $110, and average household income of consumer is $24,600.
1. Assume households have utility function U(C, I) = 2cl1/2, can earn wage w per hour worked, and receive V in non-wage income. Total amount of time available for leisure l and labor h is T = h + l.
Consider an event which has a probability of occurring to any individual = 0.01 once each year, and never occurs twice in a year.. If this event occurs, it costs the person $100,000.
What difference does it make how societal “development” or “progress” is measured? What difference might it make if the Genuine Progress Indicator (GPI) were to replace the Gross National Product or Gross Domestic Product (GNP or GDP) as the standard..
What is the mission and legal mandate of the Federal Reserve System? What policy tools are available to the FED to achieve their mission? What is the difference between an insolvent bank and an illiquid bank? Why/how does the FED treat banks that are..
Do the following variables have a positive, negative, or roughly zero correlation in a cross- section of countries: GDP per capita and the number of books published (hard copy + electronically) per capita?
A firm has the following relationship between the number of employees it has (E) and its daily output: Employees (E) output APE MPL VMPE 0 0 1 50 2 60 3 68 4 74 5 78 6 80 In the table above, calculate and enter the average products of labor (APE).
To reduce the costs of revolving insurance disputes, insurers have required that the customers use arbitration. Arbitrators are required to be knowledgeable about medicine and insurance contracts. Why might you participate that the arbitration mechan..
A country wants to focus more on domestic production of oil. They choose to focus on domestic production through incentives. Demonstrate graphically possible shift of the gasoline market: Demonstrate graphically possible shift of the ethanol market:
In early 2014, China decided to cancel the 1.3 million tons of rice import contract with Thaolanf. Using demand and supply analysis, What will the effect of the cancellation of the import contract on the equilibrium price and quantity of rice in Thai..
In international economic theory, the determination of equilibrium real exchange rate is not a key concept economic concept but important to understand.
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