Each person in a large sample of German adolescents was asked to indicate which of 50 popular movies they had seen in the past year. Based on the response, the amount of time (in minutes) of alcohol use contained in the movies the person had watched was estimated. Each person was then classified into one of four groups based on the amount of movie alcohol exposure (groups 1, 2, 3, and 4, with 1 being the lowest exposure and 4 being the highest exposure). Each person was also classified according to school performance. The resulting data is given in the accompanying table.

Assume it is reasonable to regard this sample as a random sample of German adolescents. Is there evidence that there is an association between school performance and movie exposure to alcohol? Carry out a hypothesis test using

α = 0.05.

State the null and alternative hypotheses.

H₀: Alcohol exposure and school performance are not independent.
H_a: Alcohol exposure and school performance are independent. H₀: The proportions falling into the alcohol exposure categories are not all the same for the three school performance groups.
H_a: The proportions falling into the alcohol exposure categories are the same for the three school performance groups.     H₀: The proportions falling into the alcohol exposure categories are the same for the three school performance groups.
H_a: The proportions falling into the alcohol exposure categories are not all the same for the three school performance groups. H₀: Alcohol exposure and school performance are independent.
H_a: Alcohol exposure and school performance are not independent.

Calculate the test statistic. (Round your answer to two decimal places.)
χ² =

What is the P-value for the test? (Round your answer to four decimal places.)
P-value =

What can you conclude?

Do not reject H₀. There is not enough evidence to conclude that there is an association between alcohol exposure and school performance. Reject H₀. There is convincing evidence to conclude that there is an association between alcohol exposure and school performance.      Do not reject H₀. There is not enough evidence to conclude that the proportions falling into the alcohol exposure categories are not all the same for the three school performance groups. Reject H₀. There is convincing evidence to conclude that the proportions falling into the alcohol exposure categories are not all the same for the three school performance groups.

You may need to use the appropriate table in Appendix A to answer this question.

1. Which of the following factors would not cause the supply of labor to shift?

Select the correct answer below:

a) an increase in the amount of education required to perform a job

b) implementation of a new government program that offers child care benefits to workers

c) an increase in the number of companies producing a certain product

d) All of the above would cause the supply of labor to shift.

2. In the United States, childless women with the same education and experience levels as men are typically paid _______________ men.

Select the correct answer below:

a) less than

b) more than

c) comparably to

d) less frequently than

3. Labor market discrimination arises if workers with the same ___________________ receive different pay or have different job opportunities because of their race or gender.

Select the correct answer below:

a) professional training

b) professional expertise

c) work experience

d) all of the above

4. Which of the following is an example of workers facing a monopsony in the labor market?

Select the correct answer below:

a) fast food workers in New York City

b) school teachers in a suburb of Chicago

c) heart surgeons in a town with one hospital

d) airline workers at a large international airport

5. It is sometimes necessary for an employee to take time off from work to attend to family concerns. A law was passed which allows employees to take up to 12 weeks of unpaid leave per year for family reasons, including birth or family illness. Review the selections below and choose the one which addresses this law.

Select the correct answer below:

a) Family and Medical Leave Act of 1993

b) Fair Labor Standards Act of 1938

c) Worker Adjustment and Retraining Notification Act of 1988

d) Pension Protection Act of 2006

6. The minimum wage is an example of ___________ .

Select the correct answer below:

a) a price ceiling

b) a price floor

c) equilibrium

d) a non-binding wage

7. The university states that emergency medical technicians need to be at all games to tend to medical needs. In the past, a certified athletic trainer would handle such needs. How does this new regulation affect the demand for certified trainers and emergency medical technicians?

Select the correct answer below:

a) The demand for certified trainers will not change, while the demand for emergency medical technicians will increase.

b) The demand for certified trainers and emergency medical technicians will increase.

c) The demand for certified trainers will decrease, and the demand for emergency medical technicians will increase.

d) The need for emergency medical technicians and certified trainers will decrease.

UNIT 5

Discussion Board

This week, you will discuss how you are affected by fiscal policy. For instance, you could write about how infrastructure projects in your community affect you and your community, and then how they affect the economy as a whole.

1. Please identify and explain an important infrastructure project in your city, state, or region that is currently underway or being discussed. Such a project could be an airport, a highway, a bridge, a light rail or subway system, a tunnel, new school buildings, new landfills and so on.
2. Please include information about the expected costs of the project, and how public spending on the project could stimulate the economy in your area. How would the multiplier effect work here? Do you think that spending on such a project would create new jobs beyond the project itself?

Using the Spending Approach, determine whether each of the following is Consumption, Investment, Government Purchases, Net Exports, or not included in GDP, and briefly explain why.

(a) A yoga studio purchases new yoga mats and straps.

(b) An individual purchases a new yoga mat and straps for their home practice.

(c) Someone receives a stimulus check from the government in the mail during COVID-19.

(d) A public high school purchases new textbooks for its students.

(e) A campus bookstore increases its inventory of textbooks.

(f) Your parents purchase their dream home, newly built by a local contractor.

(g)Your parents buy a vacation home from a friend who had owned that home for years.

(h)You order falafel from a Turkish food stand, here in the US.

This week, you will discuss how you are affected by fiscal policy. For instance, you could write about how infrastructure projects in your community affect you and your community, and then how they affect the economy as a whole.

1. Please identify and explain an important infrastructure project in your city, state, or region that is currently underway or being discussed. Such a project could be an airport, a highway, a bridge, a light rail or subway system, a tunnel, new school buildings, new landfills and so on.
2. Please include information about the expected costs of the project, and how public spending on the project could stimulate the economy in your area. How would the multiplier effect work here? Do you think that spending on such a project would create new jobs beyond the project itself?

Benton County includes an independent school district and two individually chartered towns within the County Benton Countr's Treasurer assesses and collects property taxes on behalf of itself, the school district, and the towns. The County uses a tax collection custodial fund to record tax collections for the school district and towns. During the year ended December 31, 2020, the following transactions took place:

1. The County levied taxes as follows:

Benton County General Fund $26,700,000

School District 14,200,000

Towns 4,200,000

Total $45,100,000

2. The property taxes levied in part (a) were collected.

3. The amounts collected were paid to the school district and towns.

Required

a. Prepare journal entries for Benton County and the Benton County Independent School District-identify the funds.

LABOR MARKET CONDITIONS: BASICS
Suppose the demand for high school teachers (Ld) satisfies the equation:

Ld = 3,000 – 35W,
where L is the number of high school teachers (measured in thousands of persons) and W is the high school teacher salary (measured in thousands of dollars).

Suppose the supply of high school teachers (Ls) satisfies the equation: Ls = -500 + 25W.

1. Using the information above, demonstrate and explain how many high school teachers will be employed (remember, L is measured in thousands of persons); demonstrate and explain what salary will prevail for high school teachers (remember, W is measured in thousands of dollars).

2. Suppose the government enacts a minimum salary of W = 60 for high school teachers. Now how many teachers will be employed and what salary will prevail? Demonstrate and explain. As a result of the mandated minimum salary, what situation will have been created in the market for teachers? Demonstrate and explain.

3. Suppose the government enacts a maximum salary of W = 50 for high school teachers. Now how many teachers will be employed and what salary will prevail? Demonstrate and explain. As a result of the mandated maximum salary, what situation will have been created in the market for teachers? Demonstrate and explain.

4. Refer back to the situation in Part A. Is your solution for the number of high school teachers employed realistic? Is your solution for the market salary for high school teachers realistic? Using data from bls.gov (and bls.gov only), report whether or not the solutions from Part A are or are not realistic.

SHORT ANSWERS

CEO pay, in contrast with pay of a company’s employees, has grown exponentially over the last several decades in the United States. Compare and contrast the two points of view below:

a. Because there exists an agency problem between CEOs, the board of directors, and shareholders, the growing pay gap is reflective of and failure of capitalism and free markets.

b. In a globalized world, where scale and scope have created massive companies unseen before the 1990s, the growing pay gap is reflective of the unique productivity of modern CEOs.

In the 1980s, some economists in the US wrote about the so-called “twin deficits.” That is, the US experienced both a government budget deficit and a trade deficit. Suppose that gross investment exceeds private saving. Explain why a country with a budget deficit must also show a trade deficit. After that, in the late 1990s, the US experienced a trade deficit and a budget surplus. In other words, the “twin deficits” got separated. Explain how this is possible. (Hint: what can you say about private saving and investment?)