According to population statistics, by 2035, Multiple Choice less than 10 percent 13 percent of the world's population will be over 65 years of age.
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- Three roommates are trying to renovate their kitchen. They decided to vote on whether or not it is worth renovating. If at least 2 people vote for the renovation, then it will happen and everyone would split the costs of renovation equally. Their utility functions are U1= (1+ R)y1; U2 = (2 + R)Y2 and U3 if the kitchen is renovated and 0 otherwise, and y;is the amount of money i spends on private consumption. Agent 1 has $900; Agent 2 has $2100 and Agent 3 has $1500; renovation project costs $1500 total. (3 + R)y3, where R=1 1. Will the house be renovated if no bribes are allowed? 2. Can they reach an agreement so that the house ends up being renovated?Tully is a graduating high school senior deciding between three alternative combinations of education-work options. He could start working immediately and earn $30,000 working in a burrito truck in period one. His salary would increase to $60,000 in period 2 as he would become chef, and then fall in period 3 to $50,000 as he would become too physically tired to work too much in the kitchen. His first alternative is to spend $15,000 to attend Da-Lousy University for economics and earn an undergrad degree in period 1. Upon obtaining his degree he would earn $80,000 as an economist for periods 2 and 3. The final option is for Tully to complete a doctorate degree in economics after finishing his undergrad degree. There would be no direct costs as he would get scholarships, but he could not work in period 2 while he completed his PhD. After finishing his PhD he would earn $200,000 as an Econ Prof at Kings University in period 3. His discount rate is 15 percent per period. What should Tully…The movie theater in Glendon has two types of customers: domestic students (group 1) and international students (group 2). At a price of p, cents, the number of movie tickets that domestic students are willing to buy per year is given by: q₁-170-0.7p₁. At a price of p₂ cents, the number of movie tickets that international students are willing to buy per year is given by: 92-87-0.3p₂. The total costs for the movie theater depend on the total number of tickets sold, q₁+92, and are given by the following total cost function C(q₁+92)=(91+9₂)². Suppose that the movie theater can identify which students are domestic and which students are international, and students are unable to resell movie tickets to each other. This enables the theater to charge different prices to domestic vs international students. How many movie tickets will domestic students buy (9₁)? How many movie tickets will international students buy (9₂)?
- Use the following graph to answer the next question. Price Level P3 a P₂ a Po I AD01 Yo AS Y3 AD3 AD₂ Y₁ Y₂ Real GDP Suppose an economy's full employment output is at the level Y₁, and the economy's current aggregate demand is represented by AD2. If the government swiftly implements contractionary fiscal policy that immediately shifts the economy's aggregate demand to AD₁, the short-to-medium term aggregate demand would be most closely represented by AD₁Homothetic preferences cannot be quasi - linear. True or FalseSuppose Lesley is deciding on career paths. She could choose career A, which earns $50,000 per year and has a 10% chance of layoff each year, or career B, which earns 80,000 per year and has a 30% chance of layoff each year. When laid off, she earns 0. Suppose her utility over annual earnings is equal to U(E) = VE (a) What would be her preferred job if she had to choose one or the other? If she could allocate her time to both jobs (e.g., could spend 90% of time in job A and 10% in job B) what would be her ideal allocation of time between jobs?
- Takaful and Karama is a social program that has been launched by the Egyptian government in 2015 to support the disadvantaged and most vulnerable families and elderly citizens. The part of the program that is directed to support families represents a conditional cash transfer that requires families to keep their children in school until they are 18 years old and follow up visits to local health care units to be eligible for receiving the cash transfer. Amira is an Egyptian ten years old child from a poor family who has previously dropped out of school. To be eligible for the fund, her mother enrolled her in school again. Amira is expected to remain in school until she is 18 years old. a) Explain, with the support of illustrative charts, the impact of Amira's returning to school until she is 18 on her potential life earning stream. b) How will that social program impact the national human capital of Egypt in the future, and specifically the characteristics of the Egyptian national…Suppose there are two different neighborhoods in a city. One neighborhood has 400 Black residents and 600 white residents. The other neighborhood has 800 Black residents and 400 white residents. What is the Dissimilarity Index (DI) equal to?John and Sotiris live on trees in two different forests. They each have eight hours to work in a day. John can grow a Yam in 1 hour or raise a Zebra in 2 hours. Sotiris can grow a Yam in 2 hours or raise a Zebra in 4 hours. Both John and Sotiris consume equal numbers of Yams and Zebras. When calculating the welfare benefits of markets, the standard analysis only includes the parties involved in exchange. Using the American Opioid Crisis as an example, explain how poorly regulated markets can cause harm to third parties not involved in exchange.
- What is the ideal of zakat distribution strategies?There are three families each with one child: The Bard family is willing to spend $7,500 a year on private schooling for their one child and would only choose a public-school option if it was worth more. The Hansen family is willing to spend $10,500 a year on private schooling for their one child but would choose a public-school option if it was worth at least $9,000. The Gelsing family is willing to spend $25,000 a year on private schooling for their one child and would never choose a public-school option. Suppose the govt provides a public education through public schools worth $10,000 to each child. How much "crowding-out" does this public education create?Exercise 1.12. Consider the following game. There is a club with three members: Ann, Bob and Carla. They have to choose which of the three is going to be president next year. Currently Ann is the president. Each member is both a candidate and a voter. Voting is as follows: each member votes for one candidate (voting for oneself is allowed); if two or more people vote for the same candidate then that person is chosen as the next president; if there is complete disagreement, in the sense that there is exactly one vote for each candidate, then the person from whom Ann voted is selected as the next president. (a) Represent this voting procedure as a game frame, indicating inside each cell of each table which candidate is elected. (b) Assume that the players' preferences are as follows: AnnAm Carla Ann Bob, Carla Bob Ann, Bob Carla Ann Caria Carla. Using utility values 0, 1 and 2, convert the game frame into a game. (c) Apply the IDWDS to the game of part (b). Is there a weak iterated…