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Team 3 –
Paw Patrol BA501: Microeconomics 1/5
Team Assignment No. 2 Question 1: Please refer to excel for additional details: Figure 1a. Median and Mean Total Income of female and males in 2022 by age groups of 5Y Figure 1b. Graph showing median income of males and females over age groups of 5Y
Team 3 –
Paw Patrol BA501: Microeconomics 2/5
Question 2: The graph above shows that there is a gradual increase in pay gap between females and males within 5Y groups increasing with age. There may be multiple potential reasons for this disparity. The ones that came up most commonly in the discussion within the team were: 1.
Negative impact of career interruptions and breaks for caregiving responsibilities (birth of a child):
These interruptions can lead to a slower career progression, fewer opportunities for promotions, and ultimately lower earnings compared to men who may not experience similar breaks in their careers. 2.
Lack of overtime, flexibility or out-of-scope work: Women, especially those with caregiving responsibilities, may opt for reduced hours (less or no extra time, no weekend work, no travel involved) or flexible work arrangements to balance work and family commitments. This choice can result in lower earnings compared to men who may work longer hours or have less interrupted career trajectories, leading to a widening salary gap as individuals progress in their careers. 3.
Nonlinear Pay Structures:
Based on the assigned reading “A Grand Gender Convergence: Its Last Chapter”, some occupations have highly nonlinear (convex) pay structures regarding hours worked, while others have almost linear pay structures. This means that in certain roles, working additional hours may result in disproportionately higher earnings, while in other roles, the relationship between hours worked and earnings is more linear. If women are more likely to be in occupations with nonlinear pay structures, their decision to work reduced hours or have more flexible schedules could lead to a larger salary gap with age compared to men in occupations with linear pay structures. 4.
Implicit Bias and Discrimination: Despite advancements in gender equality, implicit biases and discrimination in the workplace can still influence salary decisions and career outcomes. Women may face challenges in salary negotiations, performance evaluations, and access to leadership roles due to gender stereotypes and biases. These factors can perpetuate the salary gap between men and women, even as individuals reach +45 years of age. Furthermore, over the course of their careers, women may have experienced lower pay, fewer promotions, and limited access to high-paying positions compared to men. These cumulative effects of past gender disparities in earnings and opportunities can contribute to the salary gap persisting into later stages of individuals' careers. Question 3: Part A: Figure 2a. Table 15011 - 2011 ACS and % of Population - Females
Team 3 –
Paw Patrol BA501: Microeconomics 3/5
Figure 2b. Table 15011 - 2011 ACS and % of Population –
Males Part B: (i)
To calculate this, we first calculated the Average Median Income Estimate across age groups and supergroups. The Age groups provided in Figure 1.3 of “The economic value of college majors” were 25-34 and 35-44. We calculated the Average median for the age group 25-39 for each supergroup. Then to align categories with the ACS data in Part A, we combined super groups and averaged them out. Using the representative % of population for women from Part A, we calculated a weighted average of the entire population of women. Please refer to excel for calculations.
Figure 3a. Median Income for Women of 25-39Y with a bachelor’s degree.
(ii)
To calculate this, we first calculated the Average Median Income Estimate across age groups and supergroups. The Age groups provided in Figure 1.3 of “The economic value of college majors” were 25
-34 and 35-44. We calculated the Average median for the age group 25-39 for each supergroup. Then to align categories with the ACS data in Part A, we combined super groups and averaged them out. Using the representative % of population for men from Part A, we calculated a weighted average of the entire population of men. Please refer to excel for calculations. Figure 3b. Median Income for men of 25-
39Y with a bachelor’s degree.
(iii)
If women majored in the same subjects as men, the average income of women would be higher i.e same as men, $59,144.49. (iv)
If men majored in the same subjects as women, the average income of men would be lower i.e same as women, $56,560.00.
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Related Questions
Question 13
In the context of intergenerational inequality, regression toward the mean is captured by which of the following?
the tendency for the 90-50 wage gap to approach the 50-10 wage gap as a country experiences economic growth
the tendency for the tax code to erode inequality by targeting the mean tax rate to mean income
the tendency for our
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 inequality to be wider as a country experiences economic growth
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No option is correct
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How many prepaid customers were there in the second quarter of 2011?
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rdcdn.com/blackboard.learn.xythos.prod/5a25b62cdb9cf/5497575?X-Blackboard-Expiration=1631804400000&X-Bla
2/ 4
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Directions: Write below whether each factor will increase or decrease demand for the market listed, what
determinant of demand caused the increase and decrease and show the demand curve shift on the graph.
Determinant and Change
Increase or Decrease:
Graph
Scenario
9. Market: Paper towels this month
Scenario: Prices of paper towels are expected
to rise in the future.
TRIBE:
10. Market: Cheese this month
Increase or Decrease:
P.
Scenario: Prices are expected to fall next
TRIBE:
month.
11. Market: Pancake market
Increase or Decrease:
Scenario: Prices of syrup increase.
D
Q
TRIBE:
12. Market: Ketchup market
Increase or Decrease:
Scenario: Prices of hot dogs decrease
TRIBE:
D
13. Market: Almond milk
Increase or Decrease:
P
Scenario: Price of dairy milk inereases
TRIBE:
14. Market: Almond butter
Increase or Decrease:
Scenario: Price of peanut butter decreases
TRIBE:
15. Market:…
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No written by hand solution
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adult tickets sold. How many of each type did the department sell?
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Question: In an economy experiencing a significant digital transformation with widespread adoption of remote work, the government decides to introduce tax incentives for companies that maintain or create jobs in rural and less developed regions. What is the most likely short-term impact of this policy on regional economic disparities and urban employment levels? A) A reduction in regional economic disparities and a decrease in urban employment levels. B) Little change in regional economic disparities, but an increase in urban-rural migration. C) A moderate reduction in regional economic disparities and minimal impact on urban employment levels. D) Increased regional economic disparities due to a concentration of skilled jobs in urban areas.
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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.
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In an economy, over the last decade, each of the top five decile groups has experienced a fall in their share of total income. In contrast, the bottom five decile groups have experienced a substantial increase in their share of total income.
It can be concluded that, over this period, the distribution of income is most likely to have become
A more equal
B more equal but less equitable
C more equitable
D more equitable but less equal
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The following graph shows the demand for labor and the supply of labor for the entire industry.
On the following graph, use the purple points (diamond symbol) to plot the new industry supply curve. Then use the black point (plus symbol) to show
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WAGE RATE
18
15
N
12
6
3
0
0
5
10
15
20
QUANTITY OF LABOR
Supply
Demand
25
30
Demand
Supply
++
Quantity Negotiations
♦
New supply of labor
Quantity Advertising
?
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PROBLEM #2
A farmer grows strawberries, and sells the strawberries to local farm-to-table restaurants
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tractors, planters, and sprayers. The farmer has gathered data over the past two years
and has found that, for the amount of physical capital currently owned, the general
relationship between the number of farm workers (L), and the quantity of strawberries
produced per acre (measured in pounds), is represented by the following data:
L
Q
MPL
APL
1
900
2
3,400
5,610
4
7,400
5
9,100
6
10,050
7
10,640
8
11,000
a. Complete the table above by finding the marginal product (MPL) and average
product (APL) of labor for each level of labor.
b. Determine the level of labor at which diminishing marginal returns set in.
c. Determine the level of labor at which diminishing average productivity sets in;
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compared to the previous level of labor?…
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39. In this exercise we estimate the rate at which the total per-
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metropolitan area. In 1999, the population of this area was
961,400, and the population was increasing at roughly 9200
people per year. The average annual income was $30,593
per capita, and this average was increasing at about $1400
per year (a little above the national average of about $1225
yearly). Use the Product Rule and these figures to estimate
the rate at which total personal income was rising in the
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Statistical economics:
In a factory employing 3,000 persons, in a
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work from 3:01 to 4.50 hours, 30 per cent
work from 4.51 to 6.00 hours, 500 work from
6.01 to 7.50 hours, 20 per cent work from
7-51 to 9.00 hours and the rest work 9.01 or
more hours. What is the median hours of
work?
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b) Now suppose in 2021 the gender wage gap is 10%, but the average woman’s education level is increased to 17 year and the average man’s education increases to16 years. (Assume that the return to education stays same at 2%),
Was there a decrease or an increase in wage discrimination in the decade? Why?
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Q35
In order to maximize profits, a firm needs to determine the quantity of each factor that it will employ, which is dictated by price as well as productivity of the factor. Assume farmer in the Ottawa area named Justin Trudeau has fixed amounts of land and capital finds that total product is 24 for the first worker hired, 32 when two workers are hired, 37 when three are hired, and 40 when four are hired. Justin Trudeau's product sells for $3 per unit, and the wage rate is $13 per worker. What is Justin Trudeau's profit-maximizing output?
Multiple Choice
16.
40
37
20
32
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1. You have been hired as a consultant for the City of Los Angeles. City planners need to
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needed for city maintenance and services, and helps local officials anticipate the needs for
housing, school and other construction, and much more. Your work begins with finding the
population of Los Angeles in the United States Census for 1920 to 2010. The U.S. Census Bureau
data for the City of Los Angeles 1920-2010 appears in table below.
Year
Actual
Population using
Population using
Quadratic Model
Population using
Exponential Model
х, уears
since
Population
Linear Model
1920
1920
576,673
10
1930
1,238,048
20
1940
1,504,277
30
1950
1,970,358
40
1960
2,479,015
50
1970
2,816,061
60
1980
2,966,850
70
1990
3,485,398
80
2000
3,694,820
90
2010
3,792,621
a. One way to model the population is with a linear function, y = mx…
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number of individuals in the workforce per retiree
(ratio of workers supporting those receiving retirement
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A) stayed roughly the same.
B) continually increased.
C) continually decreased.
D) risen and declined with different generations.
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Age 20 21 22 23 24 25 No. of students 500 400 300 240 200 160 No. of regular players 400 300 180 96 60 24
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Q33
In order to maximize profits, a firm needs to determine the quantity of each factor that it will employ, which is dictated by price as well as productivity of the factor. Assume farmer in the Ottawa area named Justin Trudeau has fixed amounts of land and capital and finds that total product is 24 for the first worker hired, 32 when two workers are hired, 37 when three are hired, and 40 when four are hired. Justin Trudeau product sells for $3 per unit, and the wage rate is $13 per worker. The marginal product of the second worker is
Multiple Choice
32
14.
8
1
5
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Question 12
The following income distribution data are for Lesotho:
Quintile
Lowest 10%
Lowest 20%
Second quintile
Third quintile
Fourth quintile
Highest 20%
Percent Share
2.2%
3.0%
7.2%
12.5%
21.0%
56.3%
Explain how to find the Gini coefficient, graphically. (Hint: You might want to use labels on your
graph). You should be able to draw a graph on your computer, save it as a graph, picture, or
document, and upload that graph, picture, or document to your answer box. If you cannot do that,
you can always draw a graph on paper, take a picture, and upload the picture to your answer box.
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Government-imposed taxes cause reductions in the activity that is being taxed, which has important implications for revenue collections.
To understand the effect of such a tax, consider the monthly market for cigarettes, which is shown on the following graph.
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.
Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly.
PRICE (Dollars per pack)
10
9
8
6
2
1
0
0
#
Supply
Demand
10 20 30 40 50 60 70 80 90 100
QUANTITY (Packs)
Graph Input Tool
Market for Cigarettes
31-
Quantity
(Packs)
Demand Price
(Dollars per pack)
(Dollars per pack)
Suppose the government imposes a $2-per-pack tax on suppliers.
At this tax amount, the equilibrium quantity of cigarettes is
Tax
40
6.00
2.00
Supply Price
(Dollars per pack)
packs, and the government collects $
?
4.00
in tax revenue.
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