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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).
Differentiate between Nominal rate and real interest rates To distinguish the real interest rate from the "normal" interest rate, the latter is called the nominal interest rate
Imagine Adam Smith living in today's economic climate. Describe what current economic issues about which he might be most concerned with and state why?
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1. Consider two projects. The first project pays benefits of $90 today and nothing else. The second project pays nothing today, nothing one year from now, but $100 two
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Assume that there are only two inputs (labor and natural resources) producing two goods (movies and gasoline) with no improvement in society's technology over time. Further, assume
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using a graph of the classical labour market,illustrate the effects of a real wage existing in the market that is lower than the equilibrium real wage.what will eventually happen i
the central economic problem facing the group of survivors
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