EDUCATION 1. Write down the human capital earnings function (i.e., the Mincer equation). Make sure toclearly specify the meaning of each variable. 2. Why the estimates from the Mincer equation may not be interpreted as the causal effect ofeducation on earnings?

Jack has 16 hour available to work in the day, his wage rate is $25 per hour, and he has nonlabour income $100 per day. He commutes to office every work day by bus which cost $50 for the round trip and spends 2 hours on commuting the round trip. Part (a): Using a work-leisure diagram, depict the individual’s labour supply choice, including their reservation wage. Part (b): Analyze the impact of an increase in commuting costs from $50 to $70 per round trip on his participation and hours decision. What is commuting time increase from 2 hours to 4 hours keeping the commuting cost same as before.

Given the information in the table, what is the labor force participation rate? Catagory Less than 16 years old Full-time workers Full-time military Part-time workers A. 74.7% OB. 74.3% OC. 63.1% OD. 69.2% Institutionalized Looking for work Retired Number of people (millions) 40 135 1.2 20 14.8 11.5 41.5

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Fringe benefits:a. As you might have suspected, employee nonwage (fringe) benefits make up a muchlarger percentage of labor costs in the United States today than they did a few generationsago (refer to Table 3.1 in the textbook). Fringe benefits as a form of labor compensationis also very unique to the U.S. and other developed nations. Do you think that thegrowing fringe benefit share of labor costs has made the level of employment moreresponsive or less responsive to changes in labor demand over the ups and downs in theoverall economy? In other words, has it given the employers of labor more or lessflexibility as they try to adapt to continuously changing economic conditions?

Will discriminatory wage differentials persist or are they temporary? OA. If discrimination is due to government laws or the preferences of consumers, then the wage differentials will be permanent for as long as those laws or preferences persist. OB. If discrimination is due to government laws or the preferences of consumers, then the wage differentials will be temporary OC. If discrimination is due to government laws, then the wage differentials will be temporary. If discrimination is due to the preferences of consumers, then the wage differentials will be permanent for as long as those preferences persist. OD. If discrimination is due to government laws, then the wage differentials will be permanent for as long as those laws persist. If discrimination is due to the preferences of consumers, then the wage differentials will be temporary.

Employment equity legislation applied to a male-dominated workplace (eg. construction) may result in: Note: In Canada employment equity legislation requires that federal employers, when considering qualified applicants for a job, account for whether the demographic representation of their workplace reflects the population in hiring decisions and take action when they are not successful in acheiving a representative workforce. A. higher average wages for women B. wer average wages for men C. higher average wages for men D. lower average wages for women

When focusing on a married couple, one person’s non-labor income includes the laborearnings of his/her partner. Using a graph of budget constraints and indifference curves,describe what would happen to the labor supply of one spouse if the other experiences aninvoluntary job loss. Your answer does not depend on whether the spouse you’regraphing is initially supplying labor or not.

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