Twin studies are helpful in producing an unbiased estimate of the returns to schooling, because twins are likely toO have similar abilities.achieve the same amount of education.O work in the same industry.O work in the same occupation.O earn comparable wages.

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Survey of Economics (MindTap Course List)

9th Edition

ISBN:9781305260948

Author:Irvin B. Tucker

Publisher:Irvin B. Tucker

Chapter10: Labor Market And Income Distribution

Section: Chapter Questions

Problem 13SQ

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A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Complete the table. Income Quintile Share of Income $15,000 Bottom $20,000 $30,000 2nd $30,000 $35,000 3rd $40,000 $45,000 4th $50,000 $55,000 Top $80,000 If $4000 is taxed from the top earner and transferred to the lowest earner, would that increase or decrease the share of income held by the top quintile? Would this transfer increase or decrease the share of income held by the bottom quintile? Would this have any effect on the 2nd quintile? The 3rd? The 4th? Would this transfer increase, decrease, or have no effect on income inequality in this group? Redistributing income from the highest earner to the lowest one would reduce the utility of the top earner and increase the utility of the lowest earner. But what would happen to the overall utility of the…
A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Complete the table. Income Quintile Share of Income $15,000 Bottom $20,000 $30,000 2nd $30,000 $35,000 3rd $40,000 $45,000 4th $50,000 $55,000 Top $80,000 $4000 is taxed from the top earner and transferred to the lowest earner Would this transfer increase, decrease, or have no effect on income inequality in this group? Redistributing income from the highest earner to the lowest one would reduce the utility of the top earner and increase the utility of the lowest earner. But what would happen to overall utility in the economy? Would it increase, decrease, or remain the same? Explain your answer. (Hint: does the marginal utility of income diminish as one earns more?)
A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Complete the table. Income Quintile Share of Income $15,000 Bottom $20,000 $30,000 2nd $30,000 $35,000 3rd $40,000 $45,000 4th $50,000 $55,000 Top $80,000 If $4000 is taxed from the top earner and transferred to the lowest earner, would that increase or decrease the share of income held by the top quintile? Would this transfer increase or decrease the share of income held by the bottom quintile? Would this have any effect on the 2nd quintile? The 3rd? The 4th? Would this transfer increase, decrease, or have no effect on income inequality in this group? Redistributing income from the highest earner to the lowest one would reduce the utility of the top earner and increase the utility of the lowest earner. But what would happen to overall utility in the…
Suppose that workers have 4 levels of productivity. High is 12, middle is 6, low is 3, and trump is negative 1000. The value of time in leisure is half that of productivity. High and trump productivity workers are 10 percent of the labor force. Middle productivity is 30 percent and low productivity is 50 percent. What is the equilibrium wage? Is there adverse selection?
In order to make a hiring decision, a manger must: Compare wage rate with MPL. If Wage rate is equal to MPL then hire Compare wage rate with MPL. If wage rate is less than MPL then hire. Compare wage rate with MPL. If wage rate is greater than MPL then hire. Compare wage rate with MRP. If wage rate is equal to MRP then hire Compare wage rate with MRP. If wage rate is lower than MRP then hire.
Please no written by hand solutions You need to hire some new employees to staff your startup venture. You know that potential employees are distributed throughout the population as follows, but you can't distinguish among them: Employee ValueProbability$55,0000.1$64,0000.1$73,0000.1$82,0000.1$91,0000.1$100,0000.1$109,0000.1$118,0000.1$127,0000.1$136,0000.1 The expected value of hiring one employee is ? Suppose you set the salary of the position equal to the expected value of an employee. Assume that employees will not work for a salary below their employee value. The expected value of an employee who would apply for the position, at this salary, is ? Given this adverse selection, your most reasonable salary offer (that ensures you do not lose money) is ? .
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Pls help with below homework. Why do social workers care about stringency of eligability? What sorts of things does stringency of eligibility refer to?
A significantly larger proportion of higher social class children attend college than lower-class children. This islargely due to differences in ability among social classes. T or F?
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Ways in which women and children can be protected from violence and discrimination
The following figure shows the relationship between employment and monthly salary in the periods 1968 to 1984. Copytight o Moraw Educaton. Permsson required for reproduction or dispiay. Employment Monthly Salary ($) 250,000 4,500 230,000 4,000 210,000 190,000 3,500 170,000 150,000 3,000 130,000 2,500 110,000 Wage 90,000 2,000 70,000 Employment 50,000 1,500 1968 1970 1972 1974 1976 1978 1980 1982 1984 Using the labour supply - labour demand model, how can you rationalize the comovement between employment and wage in the period 1968-1976 The labour demand curve shifts to the left There is no way to rationalize the data The labour demand curve shifts to the right The labour supply curve shifts to the right The labour supply curve shifts to the left

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Twin studies are helpful in producing an unbiased estimate of the returns to schooling, because twins are likely to O have similar abilities. achieve the same amount of education. O work in the same industry. O work in the same occupation. O earn comparable wages.