(a) Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

Question

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Answer 1

Question

Chapter 3, Problem 1.1PA

To determine

(a)

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

The opportunity cost for a mother who chooses/decides not to work outside the home will be high if there are higher levels of education for women. This is because higher levels of education will ensure higher earnings for the women, thus the amount of earnings forgone by staying at home will increase for mothers, thus increased opportunity costs.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

To determine

(b)

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

If the unemployment rates are higher, then there will be a decline in the opportunity costs for staying at home. Higher unemployment rates will mean lesser opportunity of getting a job, and therefore lower opportunity cost.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

To determine

(c)

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

The opportunity cost for forgoing job opportunities for staying at home will be higher if the average earnings of the women are higher as they will have to forgo higher amount of money.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

To determine

(d)

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

Lower demand for labor in industries that traditionally employ women will imply lower chances for women to get a job in the industry. Since they will not be able to get a job, the opportunity cost for staying at home is decreases in comparison to working.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

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Explain information regarding the effective interest rates being charged and how much higher the rent-to-own stores’ cash price exceeded the price of the identical item at a reputable retail outlet.

Answer 2

Question

Chapter 3, Problem 1.1PA

To determine

(a)

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

The opportunity cost for a mother who chooses/decides not to work outside the home will be high if there are higher levels of education for women. This is because higher levels of education will ensure higher earnings for the women, thus the amount of earnings forgone by staying at home will increase for mothers, thus increased opportunity costs.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

To determine

(b)

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

If the unemployment rates are higher, then there will be a decline in the opportunity costs for staying at home. Higher unemployment rates will mean lesser opportunity of getting a job, and therefore lower opportunity cost.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

To determine

(c)

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

The opportunity cost for forgoing job opportunities for staying at home will be higher if the average earnings of the women are higher as they will have to forgo higher amount of money.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

To determine

(d)

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

Lower demand for labor in industries that traditionally employ women will imply lower chances for women to get a job in the industry. Since they will not be able to get a job, the opportunity cost for staying at home is decreases in comparison to working.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 3, Problem 1.1PA

To determine

(a)

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

The opportunity cost for a mother who chooses/decides not to work outside the home will be high if there are higher levels of education for women. This is because higher levels of education will ensure higher earnings for the women, thus the amount of earnings forgone by staying at home will increase for mothers, thus increased opportunity costs.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

To determine

(b)

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

If the unemployment rates are higher, then there will be a decline in the opportunity costs for staying at home. Higher unemployment rates will mean lesser opportunity of getting a job, and therefore lower opportunity cost.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

To determine

(c)

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

The opportunity cost for forgoing job opportunities for staying at home will be higher if the average earnings of the women are higher as they will have to forgo higher amount of money.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

To determine

(d)

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

Lower demand for labor in industries that traditionally employ women will imply lower chances for women to get a job in the industry. Since they will not be able to get a job, the opportunity cost for staying at home is decreases in comparison to working.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 3, Problem 1.1PA

To determine

(a)

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

The opportunity cost for a mother who chooses/decides not to work outside the home will be high if there are higher levels of education for women. This is because higher levels of education will ensure higher earnings for the women, thus the amount of earnings forgone by staying at home will increase for mothers, thus increased opportunity costs.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

To determine

(b)

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

If the unemployment rates are higher, then there will be a decline in the opportunity costs for staying at home. Higher unemployment rates will mean lesser opportunity of getting a job, and therefore lower opportunity cost.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

To determine

(c)

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

The opportunity cost for forgoing job opportunities for staying at home will be higher if the average earnings of the women are higher as they will have to forgo higher amount of money.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

To determine

(d)

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

Lower demand for labor in industries that traditionally employ women will imply lower chances for women to get a job in the industry. Since they will not be able to get a job, the opportunity cost for staying at home is decreases in comparison to working.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 3, Problem 1.1PA

To determine

(a)

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

The opportunity cost for a mother who chooses/decides not to work outside the home will be high if there are higher levels of education for women. This is because higher levels of education will ensure higher earnings for the women, thus the amount of earnings forgone by staying at home will increase for mothers, thus increased opportunity costs.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

To determine

(b)

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

If the unemployment rates are higher, then there will be a decline in the opportunity costs for staying at home. Higher unemployment rates will mean lesser opportunity of getting a job, and therefore lower opportunity cost.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

To determine

(c)

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

The opportunity cost for forgoing job opportunities for staying at home will be higher if the average earnings of the women are higher as they will have to forgo higher amount of money.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

To determine

(d)

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

Lower demand for labor in industries that traditionally employ women will imply lower chances for women to get a job in the industry. Since they will not be able to get a job, the opportunity cost for staying at home is decreases in comparison to working.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

Answer 6

Chapter 3, Problem 1.1PA

To determine

(a)

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

The opportunity cost for a mother who chooses/decides not to work outside the home will be high if there are higher levels of education for women. This is because higher levels of education will ensure higher earnings for the women, thus the amount of earnings forgone by staying at home will increase for mothers, thus increased opportunity costs.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

Answer 7

Chapter 3, Problem 1.1PA

To determine

(a)

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

Answer 8

Expert Solution

Explanation of Solution

The opportunity cost for a mother who chooses/decides not to work outside the home will be high if there are higher levels of education for women. This is because higher levels of education will ensure higher earnings for the women, thus the amount of earnings forgone by staying at home will increase for mothers, thus increased opportunity costs.

Answer 9

Expert Solution

Answer 10

Expert Solution

Answer 11

Expert Solution

Answer 12

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

Answer 13

To determine

(b)

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

If the unemployment rates are higher, then there will be a decline in the opportunity costs for staying at home. Higher unemployment rates will mean lesser opportunity of getting a job, and therefore lower opportunity cost.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

Answer 14

To determine

(b)

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Answer 15

Expert Solution

Explanation of Solution

If the unemployment rates are higher, then there will be a decline in the opportunity costs for staying at home. Higher unemployment rates will mean lesser opportunity of getting a job, and therefore lower opportunity cost.

Answer 16

Expert Solution

Answer 17

Expert Solution

Answer 18

Expert Solution

Answer 19

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

Answer 20

To determine

(c)

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

The opportunity cost for forgoing job opportunities for staying at home will be higher if the average earnings of the women are higher as they will have to forgo higher amount of money.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

Answer 21

To determine

(c)

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Answer 22

Expert Solution

Explanation of Solution

The opportunity cost for forgoing job opportunities for staying at home will be higher if the average earnings of the women are higher as they will have to forgo higher amount of money.

Answer 23

Expert Solution

Answer 24

Expert Solution

Answer 25

Expert Solution

Answer 26

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action

Answer 27

To determine

(d)

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Expert Solution

Explanation of Solution

Lower demand for labor in industries that traditionally employ women will imply lower chances for women to get a job in the industry. Since they will not be able to get a job, the opportunity cost for staying at home is decreases in comparison to working.

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

Answer 28

To determine

(d)

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Answer 29

Expert Solution

Explanation of Solution

Lower demand for labor in industries that traditionally employ women will imply lower chances for women to get a job in the industry. Since they will not be able to get a job, the opportunity cost for staying at home is decreases in comparison to working.

Answer 30

Expert Solution

Answer 31

Expert Solution

Answer 32

Expert Solution

Answer 33

Economics Concept Introduction

Introduction:

Opportunity costs is the cost in terms of forgone benefit that a person could have received by choosing an alternative course of action.

Answer 34

Ch. 3 - Prob. 1.1PA Ch. 3 - Prob. 1.2PA Ch. 3 - Prob. 1.3PA Ch. 3 - Prob. 1.4PA Ch. 3 - Prob. 2.5PA Ch. 3 - Prob. 2.6PA Ch. 3 - Prob. 2.7PA Ch. 3 - Prob. 2.8PA Ch. 3 - Prob. 3.9PA Ch. 3 - Prob. 3.10PA

(a) Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

(a) Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

Explanation of Solution

(b) Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Explanation of Solution

(c) Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Explanation of Solution

(d) Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

Explanation of Solution

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Chapter 3 Solutions

(a)

Whether higher levels of education for women will lead to an increase or decrease in the opportunity cost for mothers who decide not to work outside the home.

(b)

Whether higher unemployment rates for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

(c)

Whether higher average pay levels for women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.

(d)

Whether lower demand for labor in industries that traditionally employ women will lead to an increase or decrease in the opportunity costs for mothers who decide not to work outside the home.