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For this question you will use the dataset "march01.dat", which includes wages (column 1), age (column 2), a dummy variable indicating females (column 3), and years of education (column 4). You will need to turn in a printed copy of your M-file and your graph from Question 3.
1. Create a dummy variable that indicates individuals who went to college: college=1 if education> 12, college=0 if education≤ 12.
2. Display the average wage of females who attended college and the average wage of females who did not attend college.
3. Create a graph showing average wages (for all individuals) as a function of age (average wage on the y-axis and age on the x-axis).
Use the following data for a firm's output at various levels of employment (L) to calculate: a) its marginal physical product of labor (MPPL) schedule; (b) its (MPPL/MRCL) schedule
What is Gross National Product? Gross National Product (GNP): It measures the value of output produced through a country is citizens anywhere within the world, in a speci
circular flow of income in a single sector,two sector,three sector and four sector
Economic Growth Cyclic Fluctuations At this stage, it is useful for us to understand the difference between economic growth and cyclical fluctuations. Economic Growth Econo
It is sometimes asked whether credit cards are money since many purchases are made using these. Credit cards are a means of obtaining credit and using this to finance expenditure,
Classify each of the following as employed, unemployed, or not in the labor force. a. Beth is not working; she applied for a job at Wal-Mart last week and is awaiting the result
Whenever real GDP declines, nominal GDP must also decline
We will continue with the familiar demand curve homework the previous section Let the market demand for goods be with a linear curve: (p =A q D /10), where it is known
Control: In apples molded by Penicillium expansum, most of the patulin is confined to the region of damaged tissue and simply removing the lesions reduces the toxin by 90%, but i
George has been selling 5,000 T-shirts per month for $8.50. When he increased the price t0 $9.50 he sold only 4,000 T-shirts. What is the demand elasticity? If his marginal cost is
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