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management information systems

Introduction To Information Systems 5th Edition R. Kelly Rainer, Brad Prince, Casey G. Cegielski - Solutions

The dissident Russian writer A. Amalrik has written:The Russian people . . . have . . . one idea that appears positive: the idea of justice . . . In practice, “justice”involves the desire that “nobody should live better than I do” . . . The idea of justice is motivated by hatred of
Is it ever appropriate for society to:Let someone starve?Let someone be homeless?Forbid someone to eat chocolate?
List four conditions you believe should hold before you would argue that two individuals should get the same amount of income.a. How would you apply the conditions to your views on welfare?b. How would you apply the conditions to your views on how progressive the income tax should be?c. If the
If a garbage collector earns more than an English teacher, does that mean something is wrong with the economy?Why or why not?
Some economists argue that a class distinction should be made between managerial decision makers and other workers. Do you agree? Why or why not?
Antipoverty programs in the United States since the mid-1990s have focused on welfare-to-work programs that compel welfare recipients to take paid jobs. Some economists argue that these programs place women who are not “ready for work” into jobs that are not “ready for mothers” and move
Say you earn $200, and the government takes $75 from you in taxes to give to someone else.a. How would you feel about that?b. What would that transfer likely do to your incentive to work?c. What would the government transfer of $75 likely do to the incentive to work of the person who receives the
In 2014 the poverty level for a family of four was $24,418.a. If one-third of the total income of lower-income households is typically used for food, estimate the amount of money per day per person available for food for a person living at or below the poverty rate.b. How much does that leave for
In the Old Testament, God promised riches to Israel if Israel kept God’s commandments. But in the New Testament, Jesus says that it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of heaven.a. Considering the wealth distribution in Figure 18-5,
In a recent study the top 20 percent of Americans had 49.7 percent of the income before taxes and transfers and 48.3 percent after taxes and transfers. The same figures for the bottom 20 percent were 3.4 percent and 4.3 percent respectively.a. How much do taxes and transfers “cost” the upper
Some economists have proposed making the tax rate progressivity depend on the wage rate rather than the income level. Thus, an individual who works twice as long as another but who receives a lower wage would face a lower marginal tax rate. (LO18-4)a. What effect would this change have on
In Taxland, the first $10,000 earned per year is exempt from taxation. Between $10,000.01 and $30,000, the tax rate is 25 percent. Between $30,000.01 and $50,000, it’s 30 percent. Above $50,000, it’s 35 percent. You’re earning$75,000 a year. (LO18-4)a. How much in taxes will you have to
In what instance would John Rawls support greater income inequality? (LO18-3)
Why did Bertrand de Juvenal argue for a high level of income inequality? (LO18-3)
How is the distribution of income related to the emergence of the Tea Party and the Occupy movement? (LO18-2)
Is the class system in the United States more like a pyramid, diamond, or pentagon? Why is this so? (LO18-2)
How has the median income of women compared to men changed since 1980? What do you think is the cause? (LO18-2)
Would the Lorenz curve for the world be more or less bowed out compared to the Lorenz curve for the United States? (LO18-1)
How does social mobility in the United States compare to that in Britain? Why do you think this is so? (LO18-1)
Should poverty be defined absolutely or relatively?Why? (LO18-1)
The accompanying table shows income distribution data for three countries. (LO18-1)a. Using this information, draw a Lorenz curve for each country.b. Which country has the most equal distribution of income?c. Which country has the least equal?d. By looking at the three Lorenz curves, can you tell
Why are we concerned with the distribution of income between whites and blacks, but not between redheads and blondes? (LO18-1)
What would the Lorenz curve for lawyers represent?(LO18-1)
The Lorenz curve for Bangladesh looks like this:How much income do individuals in the top income quintile in Bangladesh receive? (LO18-1) Cumulative percentage of income 58.7% 37.4 21.3 8.9 100% 20 40 60 80 100% Cumulative percentage of population
How can the absence of property rights hurt poor people instead of help them? (LO17W-4)
“In perfect competition no one would get rich quick, but the economy would stagnate.” Evaluate this statement.(LO17W-2)
In divorce cases, a common debate concerns whether an advanced degree should be considered marital property in which the academic-advanced-degreeholder’s spouse should be given an interest.(LO17W-1)a. What are the arguments in favor of seeing it as marital property?b. What are the arguments
Some people argue that zoning laws are immoral. Based on your understanding of property rights, explain how they likely justify this position. (LO17W-1)
The government is a strong supporter of intellectual property rights. How does that support affect the distribution of income? Would society be better off with much weaker intellectual property rights? (Institutionalist)
In the Bible, every 50th year is said to be a Jubilee year, in which all debts are forgiven. What would be the purpose of such a tradition, and should we establish something like it in our economy? (Religious)
In what way can zoning laws be considered illegal appropriation of property by the government? Should it be legal?(Austrian)
How do you believe women’s right to own property affects domestic violence? (Feminist)
Pierre Joseph Proudhon is famous for the saying “All property is theft.” What do you think he meant by this statement? (Radical)
“If all people were paid their marginal product, there would be true justice in the economy.” Evaluate this statement. (LO17W-4)
Define human capital and explain why modern economists’use of the term makes the functional distribution of income analysis less useful. (LO17W-4)
What is the present value of a cash flow of $200 per year forever (a perpetuity), assuming: (LO17W-3)The interest rate is 18 percent.The interest rate is 12 percent.The interest rate is 6 percent.a. Working with those same three interest rates, what are the future values of $200 today in one year?
The same salesperson offers you a lump sum of$20,000 in 30 years. How much should you be willing to pay? (The interest rate is still 9 percent.)(LO17W-3)
A salesperson calls you up and offers you $100 a year for life. If the interest rate is 9 percent, how much should you be willing to pay for that annuity?(LO17W-3)
Differentiate normal profits from economic profits.(LO17W-2)
A team of scientific engineers has designed a new method of generating electricity and of desalinating water. It’s a desert wind tower—a hollow cylinder 3,300 feet high. Sea water is pumped into the top of the tower, where it evaporates rapidly. As the air in the tower is cooled by the
The U.S. Reindeer Act of 1937 gives the Inupiat and other native Alaskans exclusive rights to possess reindeer. What’s the probable effect of the law on the price of reindeer meat?On profits to those licensed to own reindeer? Is this law fair? (LO17W-1)
Demonstrate graphically how the price of land is determined. (LO17W-1)a. Show the effect of a tax on that land.b. Explain why that tax won’t cause the price of land to rise.c. Based on this analysis, would you support more extensive use of land and property taxes in the United States? Why?
List the four traditional categories of income and explain why they have become less important to modern economic analysis. (LO17W-1)
More than half of agricultural workers in the United States are undocumented immigrants. Some Americans support strong enforcement of immigration laws that limit the number of workers from Central and South America coming to the United States so that U.S. citizens can get those jobs, while others
In an article in the Journal of Human Resources titled“The Economic Reality of the Beauty Myth,” economists Susan Averett and Sanders Korenman found that family income of obese women is about 17 percent lower than that of women who are of recommended weight. The differential was less for men
Interview three married female and three married male professors at your college, asking them what percentage of work in the professor’s household each adult household member does.a. Assuming your results can be extended to the population at large, what can you say about the existence of
Give four reasons why women earn less than men. Which reasons do you believe are most responsible for the wage gap?
Why is unemployment nearly twice as high among blacks as among whites? What should be done about the situation?
Why might it be inappropriate to discuss the effect of immigration policy using supply and demand analysis?
In 1997, a Dutch charity sponsored an incentive program in which teachers received prizes equal to about 30 percent of their salary if their students improved their scores on a standardized test.a. What effect would you expect the program to have on test scores?b. If not all the teachers’
According to economist Colin Camerer of the California Institute of Technology, many New York taxi drivers decide when to finish work for the day by setting an income goal for themselves. Once they reach it, they stop working.a. Is that what you would expect if the drivers are rational?b. Prospect
Some economists have argued against need-based scholarships because they work as an implicit tax on parents’salaries and hence discourage saving for college.a. If the marginal tax rate parents face is 20 percent, and 5 percent of parents’ assets will be deducted from a student’s financial aid
Which would you choose: selling illegal drugs at $75 an hour (20 percent chance per year of being arrested) or a$10-an-hour factory job? Why?
“Welfare laws are bad, not for society, but for the people they are meant to help.” Discuss.
In firms, the manager is assumed to hold down workers’wages in order to maximize his profits. Who holds down the pay of managers? (Institutionalist)
Radical economists argue that labor markets are governed by nonmarket forces such as discrimination as well as by the supply and demand for labor. As they see it, poverty and inequality are not aberrations but systematic labor market outcomes. They also believe that unions are muchneeded equalizers
Table 17-1 provides data about starting salaries for selected professional degrees; in it you can see that PhD economists are paid less than MBAs. If economists are rational, why are they economists? (Institutionalist)
Gloria Steinem pointed out the following: “I’ve yet to be on any campus where women weren’t worried about some aspect of combining marriage, children, and a career. I’ve yet to find one where many men were worrying about the same thing.”a. What does this insight suggest about the working
In his book Forbidden Grounds, University of Chicago Professor Richard Epstein argues that federal employment antidiscrimination laws ought to be abolished. [Hint:Reading Westmont College economist Edd Noell’s paper“Racial Discrimination, Police Power and the 1964 Civil Rights Act in Richard
How might the minimum wage lead to greater racial and gender discrimination in the labor market? (Austrian)
What is the difference between a union shop and a closed shop? Which did the Taft-Hartley Act make illegal?How have more recent laws changed the role of unions? (LO17-5)
What has happened to union membership in the United States since the 1960s? (LO17-5)
In 1993 Congress passed the Family and Medical Leave Act (FMLA), which requires firms with more than 50 employees grant a 12-week unpaid leave of absence for family and medical reasons. What is the likely effect on the demand for female employees?(LO17-5)
A teen subminimum training wage law allows employers to pay teenagers less than the minimum wage. (LO17-5)a. What effect would you predict this law has, based on standard economic theory?b. In analyzing the effects of the law, Professors Michael Card and Alan Kreuger of Princeton University found
Comparable worth laws require employers to pay the same wage scale to workers who do comparable work or have comparable training. What likely effect would these laws have on the labor market? (LO17-5)
According to a study by economists Muriel Niederle and Lise Vesterlund, women are less willing to participate in competitive environments. (LO17-4)a. What is the potential impact on the number of women in high-level management positions?b. If this were the cause of fewer women working in high-level
A recent study reported that the average male CEO of Fortune 500 firms is 6 feet, about 2.5 inches more than the average male. Why might this be difficult to eliminate through laws that restrict companies from hiring based on height? (LO17-4)
Which type of discrimination is easier to address legally—demand side or institutional? Explain your answer.(LO17-4)
a. List three types of demand discrimination.b. Which is the most difficult to eliminate? Why?c. Which is the easiest to eliminate? Why? (LO17-4)
The International Labor Organization estimates that 250 million children in developing countries between the ages of 5 and 14 are working either full- or part-time. The estimate of the percentage of children working within particular countries is as high as 42 percent in Kenya. Among the reasons
Explain each of the following phenomena using the invisible hand or social or political forces: (LO17-3)a. Firms often pay higher than market wages.b. Wages don’t fluctuate much as unemployment rises.c. Pay among faculty in various disciplines at colleges does not vary much although market
Show graphically how a minimum wage can simultaneously increase employment and raise the wage rate. (LO17-3)
“Eight cents of every dollar spent at retail stores in America is spent at Walmart. With such market power, Walmart is able to name the price at which it is willing to buy goods from suppliers.” (LO17-3)a. Could this happen if Walmart’s suppliers were operating in a perfectly competitive
The town of Oberlin, Ohio, has one hospital. How would you classify this market structure, and what effect will this market structure likely have on wages of nurses in Oberlin compared to a perfectly competitive market structure?Demonstrate your answer graphically.(LO17-3)
New websites such as iFreelance.com have developed a place for companies to post projects for which freelancers can bid. What is the likely effect of this new market on market demand for freelancers? Wages? (LO17-3)
As telecommunications improve, performers can reach larger and larger audiences. In the past, one could only perform in a concert hall; today one can perform for the entire world. How might that change in technology affect the relative pay of performers? (LO17-3)
Demonstrate graphically the effect of a minimum wage law. Does economic theory tell us such a law would be a bad idea? (LO17-3)
Economists Mark Blaug and Ruth Towse studied the market for economists in Britain and found that the quantity demanded was about 150 to 200 a year, and that the quantity supplied was about 300 a year. (LO17-3)a. What did they predict would happen to economists’salaries?b. What likely happens to
The president of the United States receives an annual salary of $400,000, while some top baseball players earn more than $30 million annually.(LO17-2)a. Based on marginal productivity theory, what does this say about their contributions to society?b. What qualifications to your answer might you
List four shift factors of demand and their effect on demand.(LO17-2)
List four factors that contribute to the elasticity of labor demand. (LO17-2)
If the wage goes up 20 percent and the quantity of labor supplied increases by 5 percent, what’s the elasticity of labor supply? (LO17-1)
Using the concept of opportunity cost, explain why welfare programs might increase the number of poor. (LO17-1)
Is an increase in the marginal income tax rate reflected by a shift in the after-tax supply of labor or a movement along the supply curve when the pretax wage rate is on the vertical axis? Explain your answer.(LO17-1)
Using the economic decision rule and opportunity cost, explain why an increase in the wage rate increases quantity of labor supplied? (LO17-1)
How is opportunity cost related to the supply of labor? (LO17-1)
Economist Edward Prescott observed that while Americans worked 5 percent fewer hours per week than the French in the 1970s, they worked 50 percent more hours per week in the early 2000s. He found that taxes accounted for nearly all of the difference. What was his likely argument? (LO17-1)
Why are social and political forces more active in the labor market than in most other markets? (LO17-1)
One of the things that is slowing the development of nanotechnology is the legal morass of patents that anyone working with new ideas must deal with. Some have argued that the government should give prizes for new discoveries, such as was offered for the first private flight in space, or as was
Monsanto Corporation lost its U.S. patent protection for its highly successful herbicide Roundup in the year 2000.What do you suppose was Monsanto’s strategy for Roundup in the short run? In the long run?
Soft-drink companies pay universities for the exclusive“pouring rights” to sell their products on campus. In a recent deal, UCLA signed a contract with Pepsi for$1.5 million per year limiting on-campus soft-drink sales to only Pepsi.a. Why would Pepsi agree to pay such a fee?b. What would
The title of an article in The Wall Street Journal was“Pricing of Products Is Still an Art, Often Having Little Link to Costs.” In the article, the following cases were cited:• Vodka pricing: All vodkas are essentially indistinguishable—colorless, tasteless, and odorless—and the cost of
Why would a company want to sacrifice short-run profits to establish market position?
In 2008, the wholesale price of the generic drug fluoxetine(the generic for Prozac) was $3.60 per 100.a. Given that the cost of dispensing this drug was about$5 to $10 per prescription, how much would you expect the drug to sell for?b. A prescription for 100 tablets of fluoxetine sold for $54 at
Find a prescription drug that you, someone in your family, or a friend normally takes.a. What is the price you (they) pay for it?b. What is the lowest online U.S. price for that drug?(Costco is a good place to look.)c. If the online price (with shipping) is cheaper, why don’t you (they) buy it
Author Charles Murray has argued that museums actually inhibit rather than foster the appreciation of art. He points out that the technology exists to make essentially “perfect”copies of any major artwork that even the best-trained artistic eye could not differentiate from the original.a. What
True or false? Nonprofit colleges must be operating relatively efficiently.Otherwise for-profit colleges would force existing colleges out of business.Why?
Are managers and high-level company officials paid high salaries because they’re worth it to the firm, or because they’re simply extracting profit from the company to give to themselves? How would you tell whether you’re correct?
Airlines and hotels have many frequent-flyer and frequent-visitor programs in which individuals who fly the airline or stay at the hotel receive bonuses that are the equivalent of discounts.a. Give two reasons why these companies have such programs rather than simply offering lower prices.b. Can
Large corporations spend tremendous sums in an effort to influence public policy. Some corporations fund “citizens’” groups to push policies that the corporations want. Giant drug companies fund scientists to prove that the companies’ drugs work. Large businesses even hire economists to

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