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- Country A has a poverty line of 560 in their currency (i.e., z=560). Calculate the Foster-Greer-Thorbecke (FGT) indices (i.e., P0, P1, P2) by completing the table attached to this question.Instructions: Use the interactive tool to plot Lorenz curves for the information in the table. Quintile 1st % of Income, United States, 5 2010 % of Income, Bangladesh, 2010 9 2nd 10 13 3rd 14 16 United States data from Census.gov, before-tax income, rounded to 1/100ths. Data for Bangladesh from WorldBank.org, rounded to 1/100ths. 4th 20 21 5th 51 41 Report your answers to two decimal places. According to these data, the Gini coefficient for the United States in 2010 is The Gini coefficient for Bangladesh in 2010 is These data indicate that in 2010, income inequality is (Click to select) in the United States compared to Bangladesh.Question 3 The table below gives some labor statistics (from the Bureau of Labor Statistics) for years 1995, 2000 and 2005. Use these data to answer the following questions. Express your answers in percentage terms to two places past the decimal. Variable 1995 2000 2005 Population 26,000,000 27,000,000 28,000,000 Adult population 18,000,000 19,000,000 20,500,000 Adult population able to work 17,900,000 18,800,000 20,000,000 Adult population able and wanting to work 15,700,000 16,500,000 18,000,000 Number employed 14,000,000 14,500,000 15,000,000 Number unemployed 1,000,000 1,500,000 2,500,000 a. Define labor force. For each year find the labor force b. Define the labor-force participation rate. Calculate it for each year c. Calculate the unemployment rate for each year.
- We studied three measures of wage dispersion and two measures of wage asymmetry in the chapter. What are they?In statistics, what is a qualitative variable that categorizes, describes, or names and element of a population?The following model allows the return to education to depend upon the total amount of both parents' education, called pareduc: log(wage) = Bo + Bjeduc + Bzeduc-pareduc + Bzexper + Butenure + u. (i) Show that, in decimal form, the return to another year of education in this model is Alog(wage)/Aeduc = ßi + Brpareduc. What sign do you expect for B,? Why? (ii) Using the data in WAGE2, the estimated equation is log(wage) = 5.65 + .047 educ + .00078 educ-pareduc + (.13) (.010) (.00021) .019 exper + .010 tenure (.004) (.003) n = 722, R = .169. (Only 722 observations contain full information on parents' education.) Interpret the coefficient on the interaction term. It might help to choose two specific values for pareduc-for example, pareduc = 32 if both parents have a college education, or pareduc = 24 if both parents have a high school education-and to compare the estimated return to educ. (iii) When pareduc is added as a separate variable to the equation, we get: log(wage) = 4.94 + .097…
- SLO-4.1. The amount of money people have to spend after buying necessities such as food, clothing and housing is Osavings Odiscretionary income Onet income Ogross incomeQuestion C only- what is the labor force participation rate of Macroland for people between the ages of 18-65 in January.There are a number of statistics computed to measure the price level of an economy, such as the GDP deflator and the CPI. The choice of which of these measures to use depends in many cases on the specific question you are interested in. For each of the following situations, explain whether the CPI or the GDP deflator is a more appropriate measure to use and explain why the statistic is preferred. (a) The government is interested in whether increases in defense spending are affecting the price level. (50 words) (b) An economic consulting firm is investigating the impact on the aggregate price level of more computers and electronic technology used in production.
- The following is a report from a BLS survey taker: There were 95 people in the houses I visited 22 of them were children under the age of 16, 25 people had full-time jobs, and 11 had port-time jobs. There were 10 retirees, 5 full-time homemakers, 10 full-time students over age 16, and 3 people who were disabled and cannot work. The remaining people did not have jobs, but all said they would like one Six of these people had not looked actively for work for three months, however. Find the labor force, the unempioyment rate, and the participation rate implied by the survey taker's report Labor force. 39 people Instructions: Enter your responses rounded to two decimal places Unemployment rate. 7.69 Participation rate: 61 90Show how to arrive to Equation (8.16) of the textbook, and then find the optimal amount to spend on education E and the number of children m. Provide a brief interpretation about how these equation help understand the demographic transition.The following is a report from a BLS survey taker: There were 90 people in the houses I visited. 20 of them were children under the age of 16, 25 people had full-time jobs, and 10 had part-time jobs. There were 10 retirees, 5 full-time homemakers, 9 full-time students over age 16, and 3 people who were disabled and cannot work. The remaining people did not have jobs, but all said they would like one. 5 of these people had not looked actively for work for three months, however. Find the labor force, the unemployment rate, and the participation rate implied by the survey taker’s report.Labor force: people Instructions: Enter your responses rounded to two decimal places. Unemployment rate: %Participation rate: %