Problem Set 2
Name: __________________________________________
Problem Set 2 is to be completed by 11:59 p.m. (ET) on Monday of Module/Week 4.
1. The following table presents data for wages in the market for internet security professionals.
(HINT: in the labor market the roles are reversed. Those who want to hire labor are the demanders. The workers enter the work force providing labor to the market place so they are the suppliers.)
Wage
Quantity Demanded
Quantity Supplied
$50,000
20,000
14,000
$60,000
18,000
18,000
$70,000
16,000
22,000
$80,000
14,000
26,000
$90,000
12,000
30,000
What is the equilibrium wage? _$60,000_________________________
Now, consider this scenario: Due to an increase in the
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b.) Explain what the results of such a move are for the graham cracker market. In other words, will there be a SHORTAGE, a SURPLUS, or neither created? Why?
a.)
b.) There will be a shortage created. Initially the public might be happy about the price ceiling, but soon after the sellers will begin to ration the graham crackers based on other factors since the one most willing to pay will no longer be a factor. Also, this might cause consumers to stand in long lines in order to be able to purchase the graham crackers, but since there are not enough graham crackers supplied, not everyone will be able to purchase the graham crackers. In the end, producers will move on to produce other products that are more profitable than graham crackers, worsening the shortage.
3. Pollution is considered by most a negative externality. Some economists would like to see the costs of these burdens incorporated into the price of goods that we buy. For instance, since coal fire power plants increase emissions that could potentially lead to climate change, these economists believe that the price we pay for electricity is not adequately high enough. Draw a completely labeled graph and illustrate on the graph how much higher electricity prices would be if the full costs of electricity production were taken into account. You do not need to provide actual numbers; rather, show on the
Take each bag of popped popcorn and count the individual kernels that did not pop and record the data on the chart. Perform this for each
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2. Statements (1) and (2) refer to water volumes. Are these Net or Gross volumes? (1) Crop water use (cu-ft) = Seasonal ET (ft) x Crop area (acres) x 43,560 sq-ft/acre (2) Volume applied by system (ac-in) = Application rate (in/hr) x Irrigation time (hr) x Area (acres)
6. Many drug safety research studies are sponsored by pharmaceutical companies that would financially benefit if the results of the study are favorable. Is this an example of a potential confounding factor?
When Oprah gave away Pontiac G6 sedans to her TV audience, was the value of the cars taxable? On Labor Day weekend in 2006, World Furniture Mall in Plano, Illinois, gave away $275,000 of furniture because the Chicago Bears shut out the Green Bay Packers in the team’s football season opener at Lambeau Field in Green Bay (26-0). Was the free furniture in the form of a discount or rebate taxable, or should the furniture company have handed the customers a Form 1099-MISC?
In 1900, the death rate per 100,000 population for influenza and pneumonia (I & P) was 202.2; it was 22.4 in 2003. How much did the death rate due to I & P decline
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In September of 2012, beginning in the country of Saudi Arabia, hospitals began seeing increased cases of a respiratory virus never before seen in humans. They named it Middle East Respiratory Syndrome, or MERS. MERS is a viral respiratory illness caused by the coronavirus. It was originally thought to have started there in Saudi Arabia. It was not until later that they were able to trace the origin back to Jordan starting in April of 2012. All outbreaks of MERS have been traced back to originating from the Arabian Peninsula (CDC, 2015a). Unfortunately, it is not known exactly how MERS was contracted in humans, but it is believed to have come from an animal source, probably from camels. Strains of MERS
1. Ernestine Friedl says that the position of women is higher the more they are involved in (l) primary subsistence (as owners or controllers, NOT merely as laborers) and (2) the PUBLIC distribution of the product of subsistence. Use this argument to account for the position of women in Kung society. Make sure you use both part (l) and part (2) of Friedl’s argument. (Don’t worry that Friedl’s argument is simplistic; she is not trying to say that women’s role in subsistence is the ONLY factor that affects their position in society.)
Person centred planning is a set of approaches designed to assist someone plan their life with support. It is most often used as a model to enable people with disabilities or otherwise requiring support to increase their personal self determination and improve their own independence. It discovers and acts on what is important to the person.
1. What are the two groups whose results are reflected by the t ratios in Tables 2 and 3? The two groups are pre-test and 3-month measures and pre-test and 6-month measures.
After completing the seven habits profile, my lowest categories were emotional bank account, life balance, be proactive, begin with the end in mind, put first things first, seek first to understand, and sharpen the saw.
You are planning an outing with a group of individuals. Some of the individuals need assistance with using the toilet, eating and drinking, and with their medication.
“Assess own leadership behaviours and potential in the context of a particular leadership model and own organisation’s working practices and culture using feedback from others”