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Suppose you want to estimate the following labor supply equation:
Annual Work Hours = ? + ?*(Average Hourly Wage) + ?
You gather data on US workers aged 22 to 55 from the Current Population Survey. You define the Average Hourly Wage as self-reported total annual labor income divided by self-reported total annual work hours.
a. Describe in words how to interpret the coefficient? (Ignore any concerns about causality now).
b. Give two separate reasons why you might be concerned that? is not be a good estimate of the causal effect of a change in the hourly wage a worker faces on the number of hours that they work.
The following equations describe a small open economy. Calculate the equilibrium level of output (Y*).
what should you do when the manager of a perfectly competitive firm whose short run cost is TC = 100 + 160Q + 3Q2. If the market price is $196.
q1. something went wrong when you completed the integration on the questions. for example on question one the q should
A justification for job training programs is that they improve worker productivity. Suppose that you are asked to evaluate whether more job training makes workers more productive. However, rather than having data on individual workers, you have acces..
You have opened your own word-processingservice. You bought a personal computer, and paid $5,000 for it.However, due to the cost changes in the computer industry, thecurrent price of an equivalent machine is $2,500.
When considering the decision whether to buy a new press machine for your publishing house, which of the following costs will you NOT consider?
Advertising is powerfull strategy to make people aware about company products and services and for this case is to emphasize reliability and low price, this effort will help the company to sustain in this area and to develop a customer franchise a..
Business intelligence
Construct the bank's balance sheet also calculate the bank's net worth-there is a missing piece of information on the right-side that ou need to fill-in so that both sides of the T-account add up to each other
q. assume the united states exports 2000 computers at a cost of 3000 each and imports 200 uk autos at a cost of
In the former Soviet Union, producers were paid for meeting output targets, not for selling products. Under those circumstances, Illustrate what were the economic incentives for producers.
What does the change in his con- sumption reflect a substitution or an income effect.
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