e defined as in the lecture notes. a) Calculate the opportunity cost of skill acquisition as a function of the probability of finding a job in the skilled sector. b) bBriefly describe the nature of the trade-off faced by an unskilled worker. c) paid just enough to forego skill acquisition. Show ALL steps. "Calculate the number of employed workers in the skilled sector if unskilled workers are d) of finding a job in the skilled sector is 80 %. 'riefly explain why neither of the two labour markets is in equilibrium if the probability

e defined as in the lecture notes. a) Calculate the opportunity cost of skill acquisition as a function of the probability of finding a job in the skilled sector. b) bBriefly describe the nature of the trade-off faced by an unskilled worker. c) paid just enough to forego skill acquisition. Show ALL steps. "Calculate the number of employed workers in the skilled sector if unskilled workers are d) of finding a job in the skilled sector is 80 %. 'riefly explain why neither of the two labour markets is in equilibrium if the probability

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. Workers choose whether to work in a risky or in a safe job. Suppose there are 100 workers in the economy. Worker l's reservation price (for accepting the risky job over an equivalent safe job) is $1; worker 2's reservation price is $2, and so on. Because of technological reasons, there are only 8 risky jobs and they all need to be filled. What is the equilibrium compensating wage differential between safe and risky jobs? a) $8 b) $ 10 c) $ 100 d) $ 50 e) $3 2. Which of the following is true for the "backward-bending" range of the labour supply curve? a) The income effect is dominated by the substitution effect. b) The substitution effect is dominated by the income effect. c) There is no income effect. d) There is no substitution effect. e) The income and the substitution effects exactly offset each other.
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Q3. Study Appendix Determining Adverse Impact. Textbook typo: Step D Since 53.8% is less than four-fifths, or 80%, adverse ímpact is indicated. Step 1: Calculate the rate of selection for each group Groups Job applications Number hired Selection rate % hired White 50 12 ?% Black 80 8. ? % Hispanic 200 50 ? % Step 2: Which group has the highest selection rate? The group with the highest selection rate is Step 3: Calculate the two impact ratios. Step 4: Is adverse impact indicated for the other two groups and why?
Question 9 Suppose you have log(wage) = Bo + B1 * educ + B2 * exper + B3 * white + B4 * exper Xwhite + u The partial effect of experience for white workers is A) B4 B) B2 C) B2 + B4 D) B1
pleaseplease do this urgently
D.28.
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