A justification for job training programs is that they improve worker productivity. Suppose that you are asked to evaluate wheth

er more job training makes workers more productive. However, rather than having data on individual workers, you have access to data on manufacturing firms in Ohio. In particular, for each firm, you have information on hours of job training per worker (training) and number of nondefective items produced per worker hour (output).
Required:
a. Carefully state the ceteris paribus experiment underlying this policy question.
b. Does it seem likely that a firm's decision to train its workers will be independent of worker characteristics?
c. Name a factor other than worker characteristics that can affect worker productivity.
d. If you find a positive correlation between output and training, would you have convincingly established that job training makes workers more productive?

Business

You might be interested in

Kreter, Inc. earned net income of $300,000 last year. This year it wants to earn net income of $450,000. The company's fixed cos

stepan [3596]

Answer:

The sales amount is $2,500,000

Explanation:

To achieve a net income of $450,000 this year, the company needs to total its net income with variable and fixed costs.

To clarify, we apply the net income formula:

net income=sales-variable costs-fixed costs

By reworking the formula, sales can be calculated as:

sales=net income+variable costs+fixed costs

variable costs equal to 70% of sales,, rendering sales to be 0.7 times sales

sales=$450,000+$300,000+0.7 sales

This leads to sales - 0.7 sales = $750,000

Thus, 0.3 sales equals $750,000

As a result, sales equals $750,000/0.3 which is $2,500,000

8 0

1 month ago

Considerable research has documented that in many product categories, consumers are unable to distinguish among brands when give

soldi70 [3635]

Answer:

The concept of brand loyalty

Explanation:

Brand loyalty: This term refers to the tendency of certain consumers to continue buying products from a specific brand rather than switching to other brands. Ultimately, it is the behavior of a consumer that indicates loyalty to the brand that has established a reliable relationship with them.

The question provided talks about brand loyalty.

5 0

2 months ago

What is the value today of $4,400 per year, at a discount rate of 8.3 percent, if the first payment is received 6 years from tod

Nady [3600]

Answer:

Present Value = $290.20

Explanation:

To determine the present value of a future sum, you can use this formula:

PV = FV / (1 + i)N

In this equation, i represents the annual interest or discount rate, while t signifies the years until the payment is acquired.

PV = Present Value =?

FV = Payment = $4,400

i = 8.3% = 0.083

N = 20 - 6 = 14

PV = $4400 / (1 + 0.083)(20 - 6)

PV = $4400 / (1.083 * 14)

PV = $4400 / 15.162

PV = $290.1992

Present Value = $290.20 (Rounded)

4 0

2 months ago