Reference no: EM133300727

Problem Statement: Consider the data presented below, which represent the average household incomes earned by immigrants from various Asian countries in 2019 (Source: U.S. Census).
Question 1: Evaluate critically the following statements:
(a) "The major reason we see such wide differentials in these incomes is discrimination. E.g., there is less discrimination against Indians than against Burmese."
(b) "Indians are on the top of this list because they work harder than Pakistanis and Koreans."
(c) "The average ability of immigrants from a specific country to use the English language and their level of education likely explains a considerable proportion of these differences in income."
(d) "Immigrants are self-selected and constitute a non-random sample of the populations of the countries from which they come. Thus, intelligent comparisons between immigrants from various countries, or comparisons between immigrants and native residents of the U.S., are difficult to make."
(e) "These are household incomes; some of these differences might disappear if we corrected for the number of earners in each household."

Mean HH Income, 2019
India $126,705
Philippines $100,273
Taiwan $100,205
Indonesia $93,501
Pakistan $87,509
China $85,424
Viet Nam $72,161
Bangladesh $67,944
Korea $65,674
Thailand $66,763
Burma $45,903

Question 2: In Northern Virginia, e.g., along I-95, there exist tolled traffic lanes for cars whose drivers are willing to pay a toll based upon supply and demand. During certain peak load traffic periods, the tolls on these lanes may exceed $30 (as opposed to a zero price for the more crowded lanes nearby where there are no tolls). Use economic analysis to predict/explain which drivers will choose to pay the tolls.
Question 3: This question is about healthcare. (a) What is it about health care markets that makes them different from conventional markets for automobiles, computers, cheeseburgers, or whatever? (b) Why is it that participation in most health insurance/health care systems must be made mandatory, otherwise they tend to fail?

Question 4: It is well established that many users of transportation fail to assess and interpret accurately the safety risks they confront when they drive or ride. What are the major courses of action individuals/governments/societies can take in order to reduce the negative consequences of the inaccurate estimations of risk made by the typical driver or passenger?