Consider a modified version of the Gary Becker-style micro model of fertility choices, in which both men and women have child-care responsibilities. Suppose that the man in the household has Tm hours of time to devote to market work and/or child care, and that he must contribute cm hours per child in care time. His wage in market work is w_m. The woman has Tw hours available for market work and/or child care; she must contribute c_w hours per child in child care. Her wage is w_w. The household has no other sources of income. In addition to parental time, each child requires p in goods such as food and clothing. The household's utility function is U = Na X 1?a , with a being a preference parameter such that 0
received it Clear my choice Question 9 Toyota, a Japanese firm, produces a $25,000 car in its plant located in South Carolina, U.S. How does is factor into GDP? Not yet Irawend Select one Points out of O a. $25,000 is added to Japan's GDP I Rag quilton O b. Nothing is added to either country's GOP O c. $25,000 is added to both U.S GDP and Japan's GDP O d. $25 000 is added to U.S. GDP Quantien 10 The supply and demand model shows us that Not you Select one: Points out of 1.00 O a if there is a surplus in a market, buyers will change their preferences and decrease their demand until the surplus is gone. F Rag question O b. once a market reaches equilibrium, the market price will stay the same, even if supply and demand change in the future. O c profit seeking firms will push the price so high that eventually nobody will buy the good and the market will dissolve O d. if there is a shortage in a market, competition will make the price rise and the shortage will be eliminatedFirewood received by a music teacher In return for violin lessons would not be included in GDP O True O False D Question 21 1 pts The label "frictional unemployment" is used to describe individuals who are out of work while they are changing jobs. True False D Question 22 1 pts Net foreign factor income - +25 means that US resources earned more (25) in other countries than others (foreigners) earned in the US. True OFabe D Question 23 1 pts Natural Rate of Unemployment usually means zero unemployment, i.e. no frictional, structural or cyclical unemployment. TrueQUESTION 30 The rule of 70 states that O the number of years it takes an economy to double in size is the growth rate divided by 70. O the number of years it takes an economy to double in size is 70 divided by the growth rate. the number of years it takes an economy to double in size is the growth rate times 70. it takes an economy 70 years to double its real GDP QUESTION 31 Matt works only part-time due to the not so ideal economy situation in Connecticut, he is willing and activel time job even though he has a part-time job. In a normal calculation of U6, as measured by the BLS, Matt w Included in both the numerator and denominator Included in the denominator only O Included in the numerator only Not in Not included in either the numerator or denominator QUESTION 32QUESTION 36 The Federal Reserve System O A. Regulates the nation's financial institutions. O B. Conducts the nation's monetary policy. O C. Both answers A and B are correct. O D. Neither answer A nor B is correct.Question 2 Complete the following table for a given country and show how can you determine if the country faces an inflation in 2018? Nominal GOP2017 Nominal GDP 2014 Real GDPXD18 P P Q P C 2 A I 3 3 3 R GOP Question 3 - What is the purchasing power of (1000) Rails after (7) years if the inflation rate is (4%) per year? What are the similarity and difference between "Minimum Wage Laws" and "Theory Of Efficiency Wages"? Question 4 A theatre that sells a ticket for a comedy show. The ticket price is 3 Rials to have a seat and watch the show. There is a snack to be given to each ticket buyer that cost 1 Rial. Now, consider this scenario: There are about 50 seats that are not sold and the show is few minutes to start and there is a standby customer willing to buy the ticket by price less than 3. What is the minimum price the theater can offer? Explain the logic about your answer. Question 5 A government is trying to reduce inflation but this has led to higher unemployment. Explain the role of the prices stickiness in causing this tradeoffs
