Suppose that Person A earns $35,000 per year and Person B earns $42,000. (i) Find the exact percentage by which Person Bs salary exceeds Person As. (ii) Now, use the difference in natural logs to find the approximate percentage difference.
Chapter 19, Problems #6
Suppose that Person A earns $35,000 per year and Person B earns $42,000.
(i) Find the exact percentage by which Person B’s salary exceeds Person A’s.
(ii) Now, use the difference in natural logs to find the approximate percentage difference.
This problem has been solved!
Do you need an answer to a question different from the above? Ask your question!
Related Book For 
Introductory Econometrics A Modern Approach
7th Edition
Authors: Jeffrey Wooldridge
ISBN: 9781337558860