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A recent Associated Press article described a class action discrimination lawsuit by female teachers against the New York City Public Schools asserting that male high school teachers are systematically paid more than female high school teachers. Assume you are on the legal team for one side and in charge of working with the economist hired as an expert witness to provide evidence backing your position. What information would the economist need and how would she show the existence or non-existence of wage discrimination? (In your answer, define wage discrimination and explain how the required information relates to this definition.)
Suppose the market for good X has a four-firm concentration ratio of 0.50. Furthermore, assume that total sales in the industry are $1.2 million. Based on this information, we know that sales for the largest four firms in the industry equal (in aggre..
On June 5, 2003, the European Central bank acted to decrease the short-term interest rate in Europe by half a percentage point, to 2 percent by increasing the money supply through open market operations. What effect did the bank hope the action (of c..
Imagine a country divided into four equally sized classes, poor, lower middle, upper middle, and upper. Within each class, incomes are the same. Imagine incomes of the poor class increase by 20%, of the lower middle class increase by 30%, of the uppe..
Illustrate what is the "incubator effect" that Taiwan's government hoped would emerge in its EPZs.
q1. give examples of 7 elements of client value systems time cost quality environment impact resaleexchange self
Elasticity’s effect on pricing policy can be profound and far reaching. A poorly thought out price increase can drive profit down considerably. Likewise, a price cut might drive demand up to a level that the business cannot keep pace with thus disapp..
In this problem, p is in dollars and q is the number of units. Find the elasticity when p = $87. How would a price increase affect revenue?
Shepherd Book invests $15,000 in a pension. During the first year, the pension will be worth $1,000, the second year $2,000, the third year $1,000, and the fourth year $2,000, and so on. What is the annual worth of this pension to Rev. Book, given th..
The proportion of real GDP that must be forgone in order to reduce the inflation rate by one percentage point is called:
Petroleum Drilling, Inc., is considering installation of a new automated drilling equipment. The new equipment can be installed for $12,850,000 today and will have a life of 4 years until technological obsolescence due to rapid advances in drilling c..
Discuss the current issue of illegal aliens and the impact this has on the U.S. health care system. Should the taxpayers pay for health care for individuals who enter this country illegally? How do emergency rooms and hospitals protect their fiscal s..
Franchising in China is a relatively new and growing phenomenon which has gained momentum since the 1990s. Among the franchising pioneers in China are large and well-known food and beverage brands, such as KFC and McDonald's. What did Wang do as he p..
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