In period t, a parental household (indexed by i) equipped with human capital h earns a labour income of whi, where w> 0 represents a constant wage rate. This household derives utility out of own consumption , the number of children n and their level of human capital h+1. Education is provided by teachers who are equipped with the economy's average level of human capital h. Human capital per child evolves from one period to another according to hi+1=(e+e)" (h) (h)¹7, 0<1,7 <1 (1) where e > 0 is a constant parameter and e represents the level of education per child. The households' utility function is specified as U=In(c) +v[ln(n) + 3 ln(hi+1)] with 7,3 > 0. Raising one child to adulthood requires a share of 0 < < 1 units of time. Moreover, education is subsidised at a rate 0 ≤ se < 1, such that education costs per child amount to whe(1-8e). a. Solve household i's optimisation problem and explain the economic rationale of your results. b. Let's define a variable a capturing the households' relative human capital en- dowment with respect to the economy's average, such that Show that relative human capital of household i, evolves according to zx-(1-8e)e) (2) (3) (4) c. Suppose the +1-locus (4) intercepts from above at z = 1 with the 45-degree line. What does this information imply for the evolution of inequality? Explain the impact of the education subsidy on the +1-locus with an appropriate diagram. Remark: No derivations are required here. Just provide a decent rationale and do as asked!

Hayfever Farms is an 80‑acre hay farm in Colorado. Due to the legalization of marijuana production in the state, the owners are considering changing the farm's name to Blissful Acres and growing marijuana instead of hay. Use the information presented in the table to answer three questions. Number of acres MC $ MR $ (hay) MR $ (marijuana) 10 320 730 5,600 20 200 730 5,600 30 540 730 5,600 40 730 730 5,600 50 1,200 730 5,600 60 3,200 730 5,600 70 5,600 730 5,600 80 6,700 730 5,600 If they continue to grow only hay, how many acres should Hayfever Farms devote to growing hay in order to maximize profits? area devoted to hay:_______ acres   If the owners decide to only grow marijuana, how many acres should Blissful Acres devote to growing marijuana in order to maximize profits? area devoted to marijuana:_______ acres   Which outcome likely happens due to the legalization of marijuana production and consumption? The number of growers…

Write down the name of the sections of the report. (a) What questions are answered in each section? Write one specific question and one general question for each section.

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Is there any graph that can support this answer?

Econometrics   Thomas Eisensee and David Stromberg wanted to measure how much news coverage of a foreign disaster impacted the amount of disaster relief provided by the U.S. government. They argue that the simple relationship would be biased.   Let X = Minutes of News Coverage and Y= Disaster Aid. Choose a variable X2 that could bias the simple relationship. This variable should impact the amount of coverage and impact the amount of aid for reasons other than purely news coverage.    Eisensee and Stromberg introduce an instrument Z = During the Olympics. Explain how Z could satisfy the relevant and exogenous criteria.    Explain how you could use Z to estimate the impact of X on Y free from X2 bias. Hint: you should mention two stages.

How would you describe a correlation of -1? Group of answer choices There is a perfect linear relationship between x and y. There is a strong positive relationship between x and y. There is no relationship between x and y. There is a weak negative relationship between x and y. thanks

This question is intended to have a written response given. The writtenresponse should be 2-3 paragraphs maximum and focused on answer the specific questions of interest using the tools/concepts from lecture/tutorials. You may include agraph to support your argument/ideas, but this is not required (note: I would recommend you sketch a graph when thinking about how to answer this question, thoughthat does not need to be submitted). Leung and Seo wrote an article “How do government transfer payments affect retail prices and welfare? Evidence from SNAP” (Jan,2023) in the Journal of Public Economics. To answer this question, you do not need togo read the paper. I would in fact recommend against it as the paper is very technicaland assumes a knowledge of statistics that most students taking Econ 201 will nothave (some of the ideas will be discussed in Econ 233 and Econ 333). We will use theinformation/main ideas as a starting framework.In the United States, one of the largest welfare…

In the late 1980s land prices in Japan surged upward in a speculative bubble. Land prices then fell for 11 straight years between 1990 and 2001. What can we safely assume happened to land rent in Japan over those 11 years? Use graphical analysis to illustrate your answer.   graphical analysis is must, you have to draw graph.  Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Can you please answer (Question.4) below?