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2. Consider Tom's labor supply decision. Tom can earn $15 per hour, but he faces a 20% tax rate and pays $4 per hour in child care expenses for each hour he works.a. What is Tom's 'real' hourly wage rate?b. How much will it be if he had 128 hours of leisure (= worked 40 hours)d. Tom chooses to work 40 hours a week. On the above graph, draw Tom's indifference curves between leisure and money so that this is his optimal labor supply choice.3. Brad and Angelina are married with kids. Suppose Brad's at-home productivity as a parent is $25 and Angelina's is $40.a. Who has an absolute advantage in the home? How do you know?b. If Brad works in the labor market, he can earn a wage of $500 per hour, while Angelina can earn $600 per hour. Considering comparative advantage, which of the two should specialize in the labor market? Explain.
A corporation issued 5,000 shares of $10 par value common stock in exchange for some land with a market value of $60,000. The entry to record this exchange is ??
You start with a population of cattle in which the heritability of body weight is 0.7. You begin a program of artificial directional selection to increase body weight. You continue this generation after generation.
Calculate the wavelength of light that would be required to excite an electron from the HOMO to the LUMO. Hint: Recall that (triangle)E=hv=hc/lambda, and that 1 eV=1.602 x 10^-19 Joules.
It will take 30 minutes regardless of the traffic conditions. Lynn's utility for travel time is: U(15 minutes) = 0.9, U(30 minutes) = 0.7, and U(40 minutes) = 0.2. Which route will minimize Lynn's expected travel time?
Does a tug of war between AVC and AFC eventually take place?
If you counted 20 colonies from a 0.01-ml inoculum of a 1:10 dilution of urine, how many organisms per milliliter of specimen would you report?
You are to prepare the comments as requested, giving the implications and the limitations of each item separately. Then prepare a collective inference that may be drawn from the individual items about Carismo's solvency and going-concern potential..
If the income tax rate is 30% and the amount of income taxes paid would be $300 greater if the LIFO assumption were used, what would be the amount of income before taxes under the LIFO assumption?
Assume the results of different games played in the series are independent of each other. Find the p.m.f. of the distribution of N := duration" of the baseball series.
What is emissions testing in cars? Does emissions testing on cars actually improve air quality all over the world? These questions are something that should be considered before society decides to do emissions testing in cars.
Assuming which the price elasticity of demand for U.S. exports equals 0.40 and the price elasticity of demand for U.S. imports equals 0.20.
Assume that over a range of prices, the price elasticity of demand varies, total revenue curve over these two ranges of the demand curve as price fall.
A company's cash sales for the month are $200,000 and its accounts receivable payments for the month are $100,000. What is its total incoming cash flow.
Illustrate what is OPEC's optimal level of production? Illustrate what is the prevailing price of oil at this level.
Italians focus on past; Americans focus on present. Italians therefore should generally be more resistant to change efforts than Americans. Does culture influence how change efforts will be implemented.
Assuming the basic fixed-order quantity inventory model fits this situation and no safety stock is needed, which of the following is the reorder point (R).
Suppose you have two goods, ice cream and macaroni(an inferior good to most people). show graphically what would happens when the price of the ice cream decreases and income increases.
the demand for on campus student housing at the university of Idaho, in Moscow, Idaho. The college has 2,000 rooms for rent. Illustrate what is the equilibrium rent and how many rooms are rented.
Identify one positive or negative supply shock in the last decade and what is the impact that the shock has had in our economy.
Walras Equilibrium with two consumers and two commodities, given endowments and preferences for both consumers.
Describe the determinants of varying levels of income. What factors determine a wages of a person
Assume the Bank of Japan allowed the money supply to grow by 2% each year while the Bank of Korea chose to maintain relatively high money growth of 12% per year.
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