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labor-spring2015-assignment6
Assume education is the only determinant of productivity. With zero years of education, black and white workers both earn a wage of $2.00 per hour. Each additional year of education causes the wage of whites to rise $0.50 per hour and that of blacks by $0.20. The average black worker has 10 years of education and the average white worker has 12 years. According to the residual method, the percent of the wage gap due to discrimination is:
(a) 25 percent.(b) 50 percent.(c) 75 percent.(d) none of the above.
The demand curve demonstrate that price and quantity are inversely related. Briefly describe two justifications for this relationship. The supply curve demonstrate a positive relationship between price and quantity supplied.
You have a 0.35 probaability that you can turn your current $15,000 into $50,000 and a 0.65 probability that fierce competition will drive you to ruin, losing all your money.
suppose the initial conditions of the economy are characterized by the following equations. in this problem we assume
A firm’s Marginal Revenue curve (in class we called this also Marginal Value) is given by w=1200-2L, where w stands for the wage and L for the quantity of labor. The labor supply curve is given as w=L.
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the wealth of nations of modern economies when the federal government uses expenditures to stimulate the economy it
Suppose that upon entering the European Union (EU), it is discovered that the cost of automobile production in Poland is €14,000 while it is €20,000 in Germany. Suppose that the EU, which has a customs union, has an X percent tariff on automobiles..
consider a firm with the following production schedule and a fixed cost in the short run of 19. this fixed cost comes
Compute the natural rate of unemployment. Does it depend on the way people form their expectations of inflation? 2. Discuss the way people form expectations of inflation is modeled. 3. Compute the rate of inflation for years t, t+1, t+2 and t+3. 4. N..
if the fed3939s policy is successful in keeping real gdp at its potential level in 2015 state whether each of following
choose a developing country and discuss its economic growth in the last 2-3 years. include the following
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