Questions
Why is United Way supported as a primary charity by so many large corporations - and...

Why is United Way supported as a primary charity by so many large corporations - and soecifically in the St.Louis Metro Area?

In: Operations Management

Define: normal profit. 2. Define: external diseconomies 3. Define: transactions costs. 4. Define: public goods. 5....

Define: normal profit.
2. Define: external diseconomies
3. Define: transactions costs.
4. Define: public goods.
5. Define: moral hazard.
6. Define: asymmetric information.
7. Define: a natural monopoly.
8. Distinguish between a progressive and a regressive tax.
9. Distinguish between the risk and uncertainty in economics
10. Define: marginal cost

11. What are the consequences of natural monopolies?
12. Explain why negative externalities like air pollution lead to too much production of the pollution-producing goods.
13. Explain why private, for-profit firms will not provide public goods.
14. In a supply and demand framework, describe the process or sequence of events that is likely to occur if the current price is below the equilibrium price.
15. Explain why according to neoclassical economics, a profit maximizing firm will increase its labor force up to the number of workers that equates the prevailing wage rate to the value of the marginal product of labor (the marginal revenue product of labor).
16. What factors account for the fact that labor markets are segmented rather than unified?
17. What are the consequences of occupational discrimination whereby some groups are crowded into a small number of occupations (e.g., women in nursing)?
18. Explain employers’ divide and conquer strategy as an explanation of discrimination.
19. Explain why, when a firm is producing the quantity that equates its average cost to its marginal cost, it is productively efficient.
20. Explain how the capital adjustment process affects the allocation of resources among industries and the social division of labor.
21. Describe the price adjustment process that would be set in motion in the bottled water market if a wide-spread drought were to hit the United States.
22. What factors might account for the fact that labor markets are segmented rather than unified?
23. What are the consequences of occupational discrimination whereby some groups are crowded into a small number of occupations (e.g., women in nursing)?
24. Explain employers’ divide and conquer strategy as an explanation of discrimination.
25. How does insurance, including social insurance like Medicare and Social Security, reduce risk and add economic value?
26. What’s wrong with the statement “I oppose universal health care coverage because I shouldn’t be required to pay for someone else’s health care”?
27. Unlike most methods of generating electric power, solar photovoltaic panels can be purchased by individual consumers and installed on the roof of their housing. The demand for them has increased, but their price has dropped. Explain what may be happening in this industry.

Questions 28 and 29 are based on the following:

Suppose Pres. Trump and the Republican Party successfully expel all 11 million undocumented residents of the United States this year. This would represent an abrupt decrease in the overall supply of labor of about 4%. Since undocumented workers are heavily concentrated in agriculture, construction and household services (like cleaning, child and elder care and lawn care) the percentage decline in the supply of labor to these industries would be in the 15% - 25% range.

28. Using a neoclassical price adjustment framework, explain what effects this would have in the most affected industries.
29. Suppose that this results in a decline in the rate of profit in the most affected industries. Using the capital adjustment mechanism, explain what is likely to happen (and why) in the most affected industries.

Questions 38 41 are based on the efficiency wage framework. The efficiency wage framework can be summarized with the following equation:

P = k{w/(Q/L)}

Where:

P

K

W

Q

= Price

= the mark-up ratio

= the wage rate per hour

= the quantity produced

L

(Q/L)

{w/(Q/L)}

= the hours of labor employed in production

= output per hour of labor (labor productivity)

= labor cost per unit of output or the “efficiency

wage rate”

30. What are the chief factors determining the size of the mark-up ratio for an industry?
31. In the wage-productivity adjustment mechanism, why might a change in the hourly wage rate cause a change in labor productivity?
32. Explain how the wage-productivity adjustment mechanism approaches and equilibrium.
33. In the wage adjustment mechanism, if wages are cut, why might output prices increase?
34. Why, according to the wage adjustment mechanism, would a profit maximizing firm willingly pay wages higher than those required by a competitive labor market?

Questions 35 - 37 are based on the following.

Evidence from studies comparing employment in adjacent states and counties with different minimum wage rates show that increases in the minimum wage rate have little or no effect on employment. If anything, an increase in minimum wage seems to cause a slight increase in low wage employment. There are at least three ways of explaining this fact:

35. How does the price adjustment mechanism with income changes explain this fact?
36. How does the wage-productivity adjustment mechanism (a use of the efficiency wage framework) explain this fact?
37. How does the distribution of income adjustmentmechanism (another use of the efficiency wage rate framework) explain this fact?

38. Essay: The United States has become a throw-away economy. Rather than pay to repair something, people dispose of it, replace it with something new. Why? Explain the economics behind this tendency.

In: Economics

What is the context of the article? (By context, we mean describing the social, political, etc....

What is the context of the article? (By context, we mean describing the social, political, etc. landscape that surrounds a topic or idea)

Provide 4 claim made in the following article. Give explanations and evidence to support the claim

What was the bias in the following article and explain it

Harmonizing nurse education with U.S. hurts Canada's edge

ADRIANA BARTON

PUBLISHED MAY 12, 2016

A push to "harmonize" nursing education in Canada and the United States may threaten Canada's high standards in nurse training, according to a spokesperson for the Canadian Association of Schools of Nursing. In a report released in March, Canadian nursing schools outperformed their U.S. counterparts in the QS World University Rankings published by Quacquarelli Symonds, a British company specializing in education and study abroad.

The University of Toronto's Lawrence S. Bloomberg Faculty of Nursing placed third in the world, after the University of Pennsylvania in first place, followed by Johns Hopkins University in Baltimore, Md. Relative to the number of institutions assessed on either side of the border, however, Canada had a greater proportion of nursing schools in the Top 50 list.

But Canada could lose that edge if Canadian regulators go ahead with a plan to bridge the differences in standards between the two countries, said Cynthia Baker, executive director of the Canadian Association of Schools of Nursing. "Canadian nursing education is highly respected internationally and we should not be changing that to fit the needs of the U.S.," Baker said.

News of the plan to harmonize nursing education came in an article published in the spring edition of an online quarterly journal called Leader to Leader. The plan is part of a broader strategy to increase mobility among nursing graduates, according to a statement in the journal from a Canada-U.S. working group called the Harmonizing Education Regulatory Standards in Nursing. "Nurses often practice across borders, either by physical movement, distance education or telehealth," said the article, which was taken offline Wednesday in response to criticism. "Global consistency with nursing education regulatory approval standards would be beneficial for promoting more seamless mobility."

But according to Baker, Canada's nursing graduates are already at a disadvantage because of this strategy. Two years ago, Canada adopted a mandatory test called the NCLEX, developed in the United States to license graduates to practice nursing. In Canada, nursing schools in most provinces and territories were ill-prepared for the American test, which includes questions about care management that do not apply here, Baker said. In 2015, the pass rate for Canadians writing the test for the first time was 71 per cent. Among first-time francophone writers, the pass rate was only 27 per cent, "because the [French] translation was such a disaster," she said.

Canadian regulators adopted the U.S. licensing test without consulting non-regulatory nursing organizations in Canada. Canadian members of the harmonization team were drawn solely from provincial regulatory bodies, who are working with American partners without the knowledge of Canadian nursing educators or other professional nursing groups in Canada, Baker said.

Currently, Canadians (other than Quebeckers) must earn a bachelor of science in nursing to practice nursing in Canada, while Americans can practice with a BSN or an associate's degree in nursing or other diploma. Baker cited research evidence showing that a baccalaureate-prepared nursing work force provides significantly better and safer health care. "We believe this harmonization plan would have serious negative implications for health human resources and for the Canadian health-care system," Baker wrote in a letter to Canadian and American regulators on Friday. Leader to Leader subsequently removed the article.

Canada's success in the QS World University Rankings for nursing is based on global surveys of academic reputation, perceptions of graduate employers, research citations and measures of the global impact of scholarly publications. The 2015 rankings were the first to include nursing as a subject.

At the University of Toronto, researchers at the Lawrence S. Bloomberg Faculty of Nursing include internationally recognized leaders in postnatal depression and maternal mental health, patient decision-making in response to genetic testing for breast cancer, and monitoring of equity and access to health-care systems.

"The research underpins the evidence-based-practice approach to helping students learn how to deliver care," said Linda Johnston, dean of the Lawrence S. Bloomberg Faculty of Nursing. In addition, students develop clinical expertise during placements at world-leading care facilities such as Sick Kids and Mount Sinai Hospital, said Johnston, who was previously employed at the University of Melbourne and Queen's University in Belfast.

Since research findings may not be appropriate for every patient, becoming a first-rate nurse requires a sound understanding of how to interpret the evidence in daily practice while considering the patient and family's decisions, Johnston said. "I've only been at the U of T for two years, but I am always astounded by the insights and critical thinking that our students display."

Like Baker, Johnston expressed concern over the Canada-U.S. harmonization plan. "It may not make sense," she said, noting that the United States has "a completely different model of care delivery."

An American-style system that licenses nurses to practice without requiring a university degree may not foster the academic career pathways that have made Canada a world leader in nursing education, Johnston said. "Academics are getting older," she pointed out. "Where is the succession planning?"

She added that preparing Canadian nursing students to operate in a U.S. environment may encourage them to move to the States for better career prospects. "That could lead to a nursing shortage [in Canada]," she said.

In: Nursing

American Airlines and United Airlines are duopoly that faces a market demand curve that is p...

American Airlines and United Airlines are duopoly that faces a market demand curve that is p = 120 – Q. American and United both have a constant marginal cost of 20.

a. Calculate the output of each firm, the total market output, the price of each firm and the profit earned by each of them, if there is Cournot equilibrium. Show all the steps for full credit.

b. Draw the market demand curve of the duopoly, the residual demand curve for American Airlines.

c. Draw the best response functions (or the reaction functions) of both firms in a graph.

In: Economics

Assume that the market is in equilibrium and that stock betas can be estimated with historical...

Assume that the market is in equilibrium and that stock betas can be estimated with historical data. The returns on the market, the returns on United Fund (UF), the risk-free rate, and the required return on the United Fund are shown below. Based on this information, what is the required return on the market,           ? Year Market UF 2011 −9% −14% 2012 11% 16% 2013 15% 22% 2014 5% 7% 2015 −1% −2%           :                   7.00%; rUnited:                   85.00%; Select the correct answer. a. 59.30% b. 59.20% c. 59.10% d. 59.00% e. 58.90%

In: Finance

In 2010, the United Nations claimed that there was a higher rate of college graduates in...

In 2010, the United Nations claimed that there was a higher rate of college graduates in men than in women from the country of A. A fact finding organization went to country A to conduct a random sample from a population of 10 million people The results revealed that 60 percent of 2500 men and 54 percent of 2510 women had college degrees. Do these results indicate that the United Nations findings were correct? (Assume significance level α=0.01) Be sure to verify the conditions.  

Test an appropriate hypothesis and state your conclusion.

In: Statistics and Probability

3.2  Should states be required to cooperate with the Federal Government in its policies in fields such...

3.2  Should states be required to cooperate with the Federal Government in its policies in fields such as immigration? Should the Federal Government withhold funding or assistance to states, counties or cities which refuse to follow Federal laws? Given national supremacy, is refusing lawful?

In: Economics

When does SBD need to implement Wayfair? That is, when are states expecting Companies to register...

When does SBD need to implement Wayfair? That is, when are states expecting Companies to register for sales tax after Wayfair? Which Jurisdictions are highest priority to SBD. Should SBD start collecting and remitting sales tax in all 50 states?

In: Accounting

6. Contrasting labor union laws in two states Consider two states that adopt different laws concerning...

6. Contrasting labor union laws in two states 

Consider two states that adopt different laws concerning labor unions 

The following graph shows the labor market in a state in the North. Initially, the market-clearing wage there is $8.00 per hour. 

Suppose that the legislature in this northern state passes laws that make it easy for workers to join a union. Through collective bargaining, the union negotiates a wage of $10.00 per hour. 

Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. 

image.png


Enter $10.00 in to the box labeled Wage on the previous graph 

Hint: Be sure to pay attention to the units used on the graph 

At the union wage, _______  union workers will be employed.


The following graph shows the labor market in a state in the South. The legislature in this state passes strong "right-to-work" laws that make it very difficult for unions to organize workers, so the wage is always equal to the market-clearing value. Except for this difference in legislation, the two states are very similar. 

The initial position of the graph corresponds to the initial labor market condition in the southern state before the labor union negotiated the new, higher wage for workers in the northern state. 

Suppose that after the wage goes up in the northern state, some workers in the northern state lose their jobs and decide to move to the southern state. 

Adjust the graph to show what happens to employment and wages in the southern state.

image.png


Which of the following groups are better off as a result of the union action in the northern state? Check all that apply. 

The original workers in the southern state 

Workers in the northern state employed at the union wage 

Employers in the northern state 

Workers who find new jobs in the southern state





In: Economics

Build a simple linear regression for (1) all 50 states, (2) Eastern Time zone states, (3)...

Build a simple linear regression for (1) all 50 states, (2) Eastern Time zone states, (3) Central Time zone states, (4) Mountain Time zone states, and (5) Pacific, Alaska, and Hawaii Time zone states. Compare your results in all five parts and state your judgements. You may use charts and tables in the comparison. Your answers should have values for the coefficient of determination, AOV table, significance levels, residual plots, and the regression fit with their interpretations.

Data source: Kaiser Family Foundation, 4/20/2020, 5:38PM. (ET = eastern time, CT = central time, MT = mountain time, PT = Pacific time). Some states have a mix of two different time zones which I ignored here).

States

Time zone

X = Number of COVID-19 Cases

Y = Deaths from COVID-19

Alabama

CT

5,041

169

Alaska

PT

321

9

Arizona

MT

5,068

191

Arkansas

CT

1,923

41

California

PT

33,404

1205

Colorado

MT

9,730

420

Connecticut

ET

19,830

1331

Delaware

ET

2,745

72

District of Columbia

ET

2,927

105

Florida

ET

26,660

789

Georgia

ET

18,947

733

Hawaii

PT

580

10

Idaho

MT

1,672

45

Illinois

CT

31,513

1349

Indiana

ET

11,686

569

Iowa

CT

3,159

79

Kansas

CT

2,043

101

Kentucky

ET

2,960

148

Louisiana

CT

24,523

1328

Maine

ET

875

35

Maryland

ET

13,684

465

Massachusetts

ET

38,077

1706

Michigan

ET

32,000

2468

Minnesota

CT

2,470

143

Mississippi

CT

4,512

169

Missouri

CT

5,889

200

Montana

MT

433

10

Nebraska

CT

1,511

28

Nevada

PT

3,830

159

New Hampshire

ET

1,390

41

New Jersey

ET

88,722

4496

New Mexico

MT

1,845

55

New York

ET

252,595

18611

North Carolina

ET

6,842

202

North Dakota

CT

627

9

Ohio

ET

12,919

509

Oklahoma

CT

2,680

143

Oregon

PT

1,957

75

Pennsylvania

ET

33,914

1348

Rhode Island

ET

5,090

155

South Carolina

ET

4,446

123

South Dakota

CT

1,685

7

Tennessee

ET

7,238

152

Texas

CT

19,751

507

Utah

MT

3,213

27

Vermont

ET

816

38

Virginia

ET

8,984

300

Washington

PT

12,111

643

West Virginia

WV

902

24

Wisconsin

CT

4,499

230

Wyoming

MT

313

2

In: Statistics and Probability