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The result of fitting an educational attainment function, regressing S on ASVABC, SM, and SF, years of schooling (highest grade completed) of the respondent's mother and father, respectively, using EAEF Data Set 21 is shown below. Give an interpretation of the regression coefficients.
A firm currently uses 50,000 workers to produce 200,000 units of output per day. The daily wage per worker is $80, and the price of the firm's output is $25. The cot of other variable inputs is $400,000 per day. Assume that total fixed cost equals..
A company is considering the purchase of tractor units that will yield benefits of $10,000 for year 1, $15,000 for year 2, $20,000 for year 3, $20,000 for year 4, and $20,000 for year 5. The depreciation system used by company is MACRS-GDS, and th..
In every scientific poll on inventions, the printing press has consistently been voted the most significant invention of the past 2000 years. What cultural and social changes were brought about by the printing press
What is the minimum probability of success
Calculate the efficient Pigouvian tax to correct the externality in worked-out problem 20.1 (page 758). Show graphically and algebraically that, with this tax, the competitive equilibrium will be efficient.
suppose that the interest rate on a one year bond is 7 percent today and the interest rates expected on one year bonds in the future are 6 percents in one year, 5 percent in 2-year , and 4 percent in three years bond. what are interest rate today ..
Examine the influence of your own personal values as it relates to diversity issues presented in the case.
Consider an economy with the production function Y= L^(1/3) a) Derive the Labor demand Curve b) If Labor supply curve is L^s= (w/p) , calculate the equilibrium levels of real wage, labor and output.
Suppose there are two countries in the world, US and Japan. There are Americans in Japan, and Japanese in the US. Within the US, the market value of all the final goods and services produced by Americans is $200 billion,
The marginal tax rate is defined as the extra taxes paid on additional income divided by the increase in income. Calculate the marginal tax rate for the proportional tax system as income rises from $50,000 to $100,000.
Peter lives for three periods. He is currently considering three alternative education work options. He can start working immediately, earning $100,000 in period 1, $110,000 in period 2 (as his work experience leads to higher productivity)
What are the implications of these results for a policymaker who wants to assess the costs of a recession?
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