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1. Revisit the definition of affirmative action: "Affirmative Action maybe defined as proactive steps to erase differences between minorities and non-minorities in the labor market". Suggest a modified version of the Becker model that includes a policy intervention requiring businesses to proactively hire Black workers. Describe the changes in the model parameter(s) and resulting changes if any in the hiring decisions of the three types of firms.
2. For the following questions, please apply the Oaxaca decomposition model. The following is the wage equation in the labor market.
(Assume that all coefficients are significant at 1% significance level)
(1) Use evidence from the regression estimates to discuss whether this labor market is characterized by racial discrimination (Assume that "white" wages are benchmarks).
(2) Estimate the percentage of wage gap due to racial discrimination after controlling for years of schooling and years of work experience.
(3) What would be the coefficient on "Black" if there was no discrimination?
(4) Assume that all workers have 20 years of schooling and 5 years of work experience. Assuming that white and black workers are perfect substitutes, then what is the threshold value of the discrimination coefficient "d" at which prejudiced businesses will start hiring only white workers?
Analysis the most recent issue of International Economic Trends, published through the Federal Reserve Bank of St. Louis. You will notice percent (%) changes in economic data for 7-countries and Euro Area.
Illustrate equations for total income also marginal income (interm of Q). what will be the total revenue at price of $ 70? what will be marginal revenue.
Answer whether the following statements are true or false, explaining your answer in each case.
If the policy interest rate is near zero, what less conventional monetary policy tools might a central bank use to stimulate the economy? How do these tools work? In what way is central banking in the euro-zone area different from or similar to th..
Which combination of fiscal policy actions would most contractionary for an economy experiencing severe demand-pull inflation.
Elucidate how the steepness of the short run aggregate supply curve affects the government's ability to use fiscal policy to change real GDP.
You bought fewer clothes and made due with more around the home. Construct a four-to-five page APA format paper based on the above issues. Use two external sources and demonstrate your understanding of the concepts by providing a graph of each eff..
Illustrate what is the basic objective of monetary policy. What are the strengths and weaknesses of monetary policy.
Elucidate the macroeconomic and microeconomic concepts and how they relate to the management of a global organization.
Assume you hire a furloughed Wall Street analyst to aid you examine your production process, and she uses your historical cost records to estimate that your total cost function is C(Q) = 100 + 2Q + 3.5Q2. Using this equation, answer the following ..
Describe the neoclassical theory of economic growth. Then explain how the neoclassical theory is impacted by research about endogenous technological changes and increasing marginal returns.
Classical macroeconomics theory concludes that ultimately Fiscal policy generates only quantity effects, erratic investment causes long business cycles or else.
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