Suppose that the country of Libraria made a concerted effort to increase the educational level of...
Suppose that the country of Libraria made a concerted effort to increase the educational level of its people. If this effort had no effect on the wages of its workers, one might consider this as evidence in support of
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Homework Answers
Answer - The signaling view of education
Reason- As according to signaling theory education raises the workers wages, as education levels is a signal of workers ability.
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Suppose that the country of Libraria made a concerted effort to
increase the educational level of...
6. Suppose that education does not increase an individual's marginal productivity and that there are of...
6. Suppose that education does not increase an individual's marginal productivity and that there are of people in the world: over-achievers and slackers. Over-achievers don't really mind going to school and for them the cost of e years of school is 0.5*e. Slackers, on the other hand, find school more burdensome, and for them the cost of e years of school is e. Consider two different firms. Firm 1 offers to pay workers such that the present discounted value of...
Suppose that education does not increase an individual's marginal productivity and that there are two types...
Suppose that education does not increase an individual's marginal productivity and that there are two types of people in the world: over-achievers and slackers. Over-achievers don't really mind going to school and for them the cost of e years of school is 0.5*e. Slackers, on the other hand find school more burdensome, and for them the cost of e years of school is e Consider two different firms. Firm 1 offers to pay workers such that the present discounted value...
Suppose that education does not increase an individual’s marginal productivity and that there are two types...
Suppose that education does not increase an individual’s marginal productivity and that there are two types of people in the world: over-achievers and slackers. Overachievers don’t really mind going to school and for them the cost of y years of school is y/2 . Slackers, on the other hand, find school more burdensome, and for them the cost of y years of school is y. Consider two different firms. Firm 1 offers to pay workers such that the present discounted...
TEXT Alternative: Suppose you were in charge of establishing economic policy for a small island country...
TEXT Alternative:
Suppose you were in charge of establishing economic policy for a
small island country whose only industry is fishing. When people
aren't fishing, they're enjoying leisure time with their
families.
Which of the following policies would lead to greater economic
growth? Check all that apply.
Imposing a tax on fishing boats (a form of capital)
Lowering the income tax, assuming that it encourages people to
work longer hours
Subsidizing research and development into new fishing
technologies
Offering free...
Suppose the country of Isaias-opolis has a major increase in investment. Using the AD-AS Model and...
Suppose the country of Isaias-opolis has a major increase in investment. Using the AD-AS Model and assuming the country is initially in its long run equilibrium, what will be the effect in the long run? Group of answer choices Price level rises and output is unchanged Price level rises and output rises Price level falls and output rises Price level falls and output is unchanged
The objective this week is to synthesis information in writing the review of literature. Activity 1...
The objective this week is to synthesis information in writing the review of literature. Activity 1 1. Choose one of the focus areas for your paragraph from (a), (b) or (c): a. Educational considerations b. Brain drain effect c. Benefits to sending countries 2. Read carefully the different relevant points put forward by the different authors/sources 3. Identify the similarities in the positions and write a coherent account of their views. Be sure to use appropriate reporting verbs to do...
3. Productivity and growth policies Consider a small island country whose only industry is weaving. The following table...
3. Productivity and growth policies Consider a small island country whose only industry is weaving. The following table shows information about the small economy in two different years. Complete the table by calculating physical capital per worker as well as labor productivity. Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as the quantity of goods per hour of labor. Year Physical Capital Labor Force...
B. Suppose that the country wants to increase its steady-state value of output per worker. What s...
b. Suppose that the country wants to increase its steady-state value of output per worker. What steady-state value of the capital-labor ratio is needed to double the steady-state value of output per capita? Round to one decimal place if needed. Otherwise, keep as a whole number. Knowing your answer in part b, what fraction of income would households have to save to achieve a steady-state level of output per worker that is twice as high? Round to one decimal place...
Dropdown options are Increase/Decrease 3. Productivity and growth policies Consider a small island country whose only...
Dropdown options are
Increase/Decrease
3. Productivity and growth policies Consider a small island country whose only industry is weaving. The following table shows information about the small economy in two different years. Complete the table by calculating physical capital per worker as well as labor productivity. Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as the quantity of goods per hour of labor. Physical...
3. Productivity and growth policies Consider a small island country whose only industry is fishing. The...
3. Productivity and growth policies Consider a small island country whose only industry is fishing. The following table shows information about Complete the table by calculating physical capital per worker as well as labor productivity Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as the quantity of goods per hour of labor. Physical Capital Labor Force Physical Capital per Worker (Fishing poles) Labor Hours...
6. Suppose that education does not increase an individual's marginal productivity and that there are of people in the world: over-achievers and slackers. Over-achievers don't really mind going to school and for them the cost of e years of school is 0.5*e. Slackers, on the other hand, find school more burdensome, and for them the cost of e years of school is e. Consider two different firms. Firm 1 offers to pay workers such that the present discounted value of...
Suppose that education does not increase an individual's marginal productivity and that there are two types of people in the world: over-achievers and slackers. Over-achievers don't really mind going to school and for them the cost of e years of school is 0.5*e. Slackers, on the other hand find school more burdensome, and for them the cost of e years of school is e Consider two different firms. Firm 1 offers to pay workers such that the present discounted value...
TEXT Alternative:
Suppose you were in charge of establishing economic policy for a
small island country whose only industry is fishing. When people
aren't fishing, they're enjoying leisure time with their
families.
Which of the following policies would lead to greater economic
growth? Check all that apply.
Imposing a tax on fishing boats (a form of capital)
Lowering the income tax, assuming that it encourages people to
work longer hours
Subsidizing research and development into new fishing
technologies
Offering free...
The objective this week is to synthesis information in writing the review of literature. Activity 1 1. Choose one of the focus areas for your paragraph from (a), (b) or (c): a. Educational considerations b. Brain drain effect c. Benefits to sending countries 2. Read carefully the different relevant points put forward by the different authors/sources 3. Identify the similarities in the positions and write a coherent account of their views. Be sure to use appropriate reporting verbs to do...
b. Suppose that the country wants to increase its steady-state value of output per worker. What steady-state value of the capital-labor ratio is needed to double the steady-state value of output per capita? Round to one decimal place if needed. Otherwise, keep as a whole number. Knowing your answer in part b, what fraction of income would households have to save to achieve a steady-state level of output per worker that is twice as high? Round to one decimal place...
Dropdown options are
Increase/Decrease
3. Productivity and growth policies Consider a small island country whose only industry is weaving. The following table shows information about the small economy in two different years. Complete the table by calculating physical capital per worker as well as labor productivity. Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as the quantity of goods per hour of labor. Physical...
3. Productivity and growth policies Consider a small island country whose only industry is fishing. The following table shows information about Complete the table by calculating physical capital per worker as well as labor productivity Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as the quantity of goods per hour of labor. Physical Capital Labor Force Physical Capital per Worker (Fishing poles) Labor Hours...
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