Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506893
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Question
Chapter ST8, Problem 1CQ
To determine
Reason for earning difference between men and women.
Expert Solution & Answer
Explanation of Solution
The earnings of women are lower when comparing it with the earnings of men. Employment discrimination refers to the discrimination on the basis of age, sex, religion, or nationality. Even though the age, marital status, schooling years, or nationality are similar to both men and women, the employment discrimination still exists. Marital status is one of the important factors, which creates difference in earnings. This is because earnings gap will be reduced if not married than married ones. In addition to these factors, the educational choice and career goals are also cause difference in earnings of men and women.
Economics Concept Introduction
Employment discrimination: Employment discrimination refers to the discrimination in jobs on the basis of age, sex, religion, or nationality.
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Bill’s father read that each year a car’s value declines by 10%. He also read that a new car’s value declines by 12% as it is driven off the dealer’s lot. Maintenance costs and the costs of “car problems” are only $200 per year during the 2-year warranty period. Then they jump to $750 per year, with an annual increase of $500 per year.Bill’s dad wants to keep his annual cost of car ownership low. The car he prefers cost $30,000 new, and he uses an interest rate of 8%. For this car, the new vehicle warranty is transferrable.(a) If he buys the car new, what is the minimum cost life? What is the minimum EUAC?(b) If he buys the car after it is 2 years old, what is the minimum cost life? What is the minimum EUAC?(c) If he buys the car after it is 4 years old, what is the minimum cost life? What is the minimum EUAC?(d) If he buys the car after it is 6 years old, what is the minimum cost life? What is the minimum EUAC?(e) What strategy do you recommend? Why?
Please show each step and formula,…
Chapter ST8 Solutions
Microeconomics: Private and Public Choice (MindTap Course List)
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