Suppose there are two different neighborhoods in a city. One neighborhood has 400 Black residents and 600 white residents. The other neighborhood has 800 Black residents and 400 white residents. What is the Dissimilarity Index (DI) equal to?
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Suppose there are two different neighborhoods in a city. One neighborhood has 400 Black residents and 600 white residents. The other neighborhood has 800 Black residents and 400 white residents. What is the Dissimilarity Index (DI) equal to?
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- Suppose that, on average, men earn $17 an hour and have an average of 15 years of schooling. Women earn $15 an hour and have an average of 14 years of schooling. If the estimated return to schooling for men is 0.30 (implying that each additional year of schooling translates into an additional 30 cents per hour) and the returns for schooling for women is 0.2, then the gender gap in schooling explains: 10% of the wage gap between men and women. 20% of the wage gap between men and women. 30% of the wage gap between men and women. 15% of the wage gap between men and women.In the below graph, the white area in the upper left hand side represents 50% of the total area of the rectangle, the shaded area represents 27% of the area of the rectangle, and the white area in the lower right hand side represents 23% of the area in the rectangle. Based on this information, what is the Gini coefficient? Show your work.Explain what is meant by urban bias. What are the major effects of urban bias?
- People who often create benefits for the minority and impose the cost on the majority are calledSharon is the manager of a factory. Workers at the factory are assigned to one of two tasks, one of which requires skilled labor and one of which requires unskilled labor. Because skilled workers earn a higher wage than unskilled workers, everyone who applies for a job says they're skilled. Sharon's challenge is to figure out who is actually a skilled worker and who is an unskilled worker. Suppose that Sharon would like to use the economic concept of screening to separate out worker types. Which of the following scenarios illustrates this concept? Skilled workers pay to take a certification course to demonstrate their ability. Sharon voluntarily pays all workers a higher wage in hopes of attracting and retaining more productive workers. Sharon implements a test to determine whether applicants are skilled or not. Suppose, instead, the manager considers paying efficiency wages to increase the factory's profitability. True or False: Efficiency wages are set equal to the average industry…Suppose society consists of two individuals, A and B, who must split a fixed income of $150. Individual A's marginal utility of income is given by MUA=400-IA and individual B's marginal utility of income is given by MUB=600-6IB. Suppose the social welfare function is W=UA+UB. What if the social welfare function is, instead, W=min(UA,UB). 44. Then equity in the distribution of income would be synonymous with equality of What if the social welfare function is, instead, W=UA+2.6UB and individual B's marginal utility is, instead, MUB=200-IB. 45. What is the optimal distribution of income to individual A? $ 46. What is the optimal distribution of income to individual B? $ 47. Equity in the distribution of income would be synonymous with equality of
- Summarize the five most commonly used demographic variables.Suppose that there are exactly two types of workers in LA: A’s and B’s. A’s earn a firm $15 in revenue (in their lifetime) and B’s earn a firm $10 in revenue (in their lifetime). There are equal numbers of each type of worker in LA. Firms cannot distinguish between the two types of workers. Even after a firm has hired them, the firm won’t be able to monitor their work closely enough to determine which workers are of which type. Workers prefer a higher wage to a lower wage and workers supply their labor (to the highest possible wage they can get) as long as this wage is positive. A firm pays a worker a wage equal to the expected amount of revenue the worker earns for the firm (in his/her lifetime). Workers are risk neutral. Question 15 : What is the wage (per lifetime) that a type A worker receives? What is the wage (per lifetime) that a type B worker receives?Suppose there are two people, Selma and Burak, who must split a fixed income of 200. The marginal utilities of income for Selma and Burak are as follows: MUS = 600- 2*ls MUB = 600- 4*IB where IS and IB are incomes of Selma and Burak respectively. a) What is optimal distribution of income if social welfare function is additive? b) Draw the MUof Selma and Burak in the Edgeworth box and show part (a). c) What is the optimal distribution if society values only the utility of Selma? What is the optimal distribution if society values only the utility of Burak? d) This example refers to ... rationale for income redistribution and it is Pareto ...
- The last three decades in the United States have been characterized by a very wide gap between the wages of those with more education and those with less. Suppose that workers eventually adjust to this gap by investing more in education, with the result that the wages of less skilled workers rise faster than those of the more-skilled (so that the wage gap between the two falls). How would a decline in the wage gap between the skilled and the unskilled affect immigration to the United States?Which of the following statements regarding the Gini coefficient are correct? A. It is the measure of the average difference in income between every pair of individuals in the population. B. It can be calculated exactly as g=A/(A+B), where A is the area between the Lorenz curve and the 45-degree line, and A + B is the area under the 45-degree line. C. The fraction A/(A+B) is an accurate approximation when the population is small. D. If 50% of a large population owned 2% of the wealth each, then the Gini coefficient equals 0.6.Explain the wealth conversion principle.