Suppose that the total factor productivity, z, increases to 4. What is the income effect of this wage change on labour supply(NS)? OA. +6.89 OB. +4.39 OC. -6.89 OD. -4.39 OE. None of the above
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- d/My courses / Faculty Of Economics & Administratiive Sciences / ECON309 / Finals / ECON 309 Fin 13. In the simple linear regression model, the regression slope a. O a. indicates by how many percent Y increases, given a one percent increase in X. ut of O b. represents the elasticity of Y on X. uestion Oc. when multiplied with the explanatory variable will give you the predicted Y. O d. indicates by how many units Y increases, given a one unit increase in X. nageDefine the term cost-of-living index?Given the gellowing hypothetical data on ingut (x) amd tätal Physical Pro duct (TPP) oy xZ corperation. Input (x) Tatal Physical Prě du ct (TPP) Average Physi cal Product CAPP) Marginal Physical Pro du ct (MPP) 3 4 14 3.5 4 24 4 8. 32 4 4 10 38 3.8 3 12 42 3.5 2 14 44 3.14 1 44 2.75 18 42 2.33 -1 20 30 1.5 - 6
- 5. Consider a representative household in the static consumption-leisure model with prefer- ences given by u(c, 1) = Ac¹/² +1¹/2. The household has a unit time endowment given by 1 = 1+n, faces a price of P on consumption, and earns nominal wages at rate W on their labor supply, n. In addition, the household faces a proportional tax on wage income of T. (a) Interpret in words the economic significance of the exogenous parameter A. (b) Interpret in words the economic significance the unitary time endowment.Consider the following one period model Consumer Utility function over consumption (C) and leisure (L) 11 U(CL) = cL3 Total hours H = 50 Labour hours N= H-L Non-labour income m Lump-sum taxT Hourly wage w Eirm Production function Y = zF(N) = 2N° Total tactor productivitiy. z= 5 Government Government spending (exogenous): G = 30 Suppose that the total factor productivity, z, decreases to 3. What is the income effect of this wage change on labour supply(N O A 840 B. +6.40 OC. +8.40 D. 6 40 E. None of the abovecourses / Faculty Of Economics & Administrative Sciences / ECON309 / Finals / ECON 309 Final Exam A 4. The following types of statistical inference are used throughout econometrics, with the exception of O a. calibration. O b. estimation. Oc. confidence intervals. O d. hypothesis testing. Next
- JosephmigratedtoCanadafromGhana5yearsago.Hecurrently works in sales but is considering quitting work for two years to earn an MBA degree. His current job pays $40,000 per year (after taxes), but he could earn $55,000 per year (after taxes) if he had an MBA. Tuition is $10,000 per year, and the cost of an apartment near campus is equal to the $10,000 he is currently paying. His discount rate is 6 percent per year. He just turned 48 and plans to retire when he turns 60, whether or not he earns his MBA degree. Based on this information, should he go for an MBA degree? Explain carefully with appropriate calculations.Assessing the impact of digital facilitation in Ghana’s investment sector. Required i. identify the dependent and the indpendent variable in the above research topic.) Consider the following closed economy SImodel set upY = 18000C = 300 + 0.8(Y − 2500)I = 3500 − 400(r)G = 3000T = 2500(a) Compute the impact on r and I, if Gincreases by 500.(b) Compute the impact on r and I, if Gincreases by 500.(c) Compute the impact on r and I, if bothG and T increase by 500.
- 3:35 PM O ll al a 59 % f H.W2.pdf Sx. The mantaly conumpthie Values for rice are Use below:- July Sept. Oct. Nov. June Aug. 28.65 7.85 13.45 21.60 24.30 14.70 Cm Cm Cm Cm Cm Determin the seasonal The consumptive use, The average montaly Consumptive use and average dzily comsumptive use, the beak monthly consumptive use.Nimbus, Inc., makes brooms and then sells themdoor-to-door. Here is the relationship between thenumber of workers and Nimbus’s output during agiven day:Workers OutputMarginalProductTotalCostAverageTotalCostMarginalCost0 0 ____ ________ ____1 20 ____ ________ ____2 50 ____ ________ ____3 90 ____ ________ ____4 120 ____ ________ ____5 140 ____ ________ ____6 150 ____ ________ ____7 155 ____ ____a. Fill in the column of marginal products. Whatpattern do you see? How might you explain it?b. A worker costs $100 a day, and the firm has fixedcosts of $200. Use this information to fill in thecolumn for total cost.c. Fill in the column for average total cost. (Recallthat ATC T 5 C Q/ .) What pattern do you see?d. Now fill in the column for marginal cost.(Recall that MC TC 5 D ∆ / Q.) What patterndo you see?e. Compare the column for marginal productwith the column for marginal cost. Explain therelationship.f. Compare the column for average total costwith the column for marginal cost. Explain…Consider a dynamic (two-period) macroeconomic model with a representative household, a representative firm, and a government. The representative household makes consumption- saving and labor supply decisions. The representative firm makes labor demand and invest- ment decisions. (a) Clearly write down the representative consumer's problem and the necessary assump- tions. (b) Clearly write down the representative firm's problem and the necessary assumptions. (c) Clearly definite the competitive equilibrium for this economy. (d) Derive (graphically) the output demand curve. State the necessary assumption(s).