Questions from Labor Economics

Q: Consider a competitive economy that has four different jobs that vary by

Consider a competitive economy that has four different jobs that vary by their wage and risk level. The table below describes each of the four jobs. All workers are equally productive, but workers v...

Q: Consider Table 5-1 and compare the fatality rate of workers

Consider Table 5-1 and compare the fatality rate of workers in the mining, construction, manufacturing, and financial industries. Reference Table 5-1: a. What would the distribution of wages look li...

Q: The Environmental Protection Agency (EPA) wants to investigate the value

The Environmental Protection Agency (EPA) wants to investigate the value workers place on being able to work in “clean” mines over “dirty” mines. The EPA conducts a study and finds the average annual...

Q: There are two types of farming tractors on the market, the

There are two types of farming tractors on the market, the FT250 and the FT500. The only difference between the two is that the FT250 is more prone to accidents than the FT500. Over their lifetime, 1...

Q: Debbie is about to choose a career path. She has narrowed

Debbie is about to choose a career path. She has narrowed her options to two alternatives. She can become either a marine biologist or a concert pianist. Debbie lives two periods. In the first, she ge...

Q: Jill is planning the timing of her on-the-job

Jill is planning the timing of her on-the-job training investments over the life cycle. What happens to Jill’s OJT investments at every age if a. The market-determined rental rate to an efficiency uni...

Q: One policy objective of the federal government is to provide greater access

One policy objective of the federal government is to provide greater access to college education for those who are less able to afford it. a. What is the difference between Pell grants and federal stu...

Q: In 1970, men aged 18 to 25 were subject to the

In 1970, men aged 18 to 25 were subject to the military draft to serve in the Vietnam War. A man could qualify for a student deferment, however, if he was enrolled in college and made satisfactory pro...

Q: a. Draw the wage-schooling locus for someone for whom

a. Draw the wage-schooling locus for someone for whom the returns to schooling decrease through college but increase after college. (Assume college is completed after 16 years of schooling and that on...

Q: A high school graduate has to decide between working and going to

A high school graduate has to decide between working and going to college. If he works, he will work for the next 50 years of his life. If he goes to college, he will be in college for 5 years, and th...