1. If you decide to go to a medical school you will need to borrow 50,000$ to co
ID: 1110416 • Letter: 1
Question
1. If you decide to go to a medical school you will need to borrow 50,000$ to cover tuition expenses, room and board. If the annual interest rate is 3% what is the future value of your loan one year from now?
47,000
48,543
51,500
50,000
2. When the mandated benefit costs to the employer are greater than to the worker's valuation of the benefit then...
Labor supply shifts up by the amount equal to the worker's valuation of the benefit
Employment level remains the same in comparison to labor market equilibrium without the mandated benefit
Employment level increases in comparison to labor market equilibrium without the mandated benefit
Employment level decreases in comparison to labor market equilibrium without the mandated benefit
3. Let’s assume that the elasticity of labor demand is -0.1 while elasticity of labor supply is 0.5. If a labor tax is placed on a firm it must be the case that:
The firm will pay larger share of the tax
The worker will pay larger share of the tax
The firm will pay an entire tax
The tax will be split equally
4. Which of the following measure inequality?
The 90-10 wage gap.
The perfect-equality Lorenz curve
The Gini coefficient
A and C only
5. Which of the following measures would best allow one to compare the relative wealth of rich households to the typical household in an economy?
The 90-10 wage gap.
The 50-10 wage gap
The Gini coefficient.
The 90-50 wage gap.
6. Regression toward the mean is captured by which of the following?
The tendency for inequality to be wider as a country experiences economic growth.
The tendency for countries to diverge in their inequality.
The tendency for income differences across families to get smaller over time as the various families move toward the mean income of the population.
The tendency for the 90-50 wage gap to approach the 50-10 wage gap as a country experiences economic growth.
7. Which of the following best describes the statement "Earnings at the 70th percentile were $23,000"?
The average earnings of those in the bottom 70% was $23,000
70% were earning $23,000 or more
The average earnings of those in the top 70% was $23,000
70% were earning $23,000 or less
8. Social mobility refers to
the ability for a worker to move up in a firm's hierarchy.
the ability for a worker to increase his or her human capital.
the link between the skills and income of parents and children.
the relationship between human capital and wages.
9. In the United States, the wealthiest 10 percent of households earn approximately what share of total income?
5%
10%
30%
50%
10. The Gini coefficient in a perfectly equal society will have a Gini coefficient of _____ while a perfectly unequal society will have a Gini coefficient equal to
0; 1
1; 0
0; infinity
-1; 1
a.47,000
b.48,543
c.51,500
d.50,000
Explanation / Answer
1.
what is the future value of your loan one year from now
=50000*(1+3%)^1
-=51500
the above is the answer
we do only one questuion based on Chegg rule.
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