The Regression Equation Difference in The Income

The Regression Equation Difference in The Income

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The Regression Equation Difference in The Income

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I’m working on an economics question and need an explanation and answer to help me learn.

Whether the “American Dream” is alive and well is a hot topic in current politics. One way the question is phrased is in terms of intergenerational mobility. The argument is that our incomes should not be too highly correlated with the incomes of our parents: it should be possible to succeed economically even if you were born to poor parents. Many studies have used simple regression analysis to measure the relation between our own income (Y, usually measured in logs) and our parents’ incomes (X, also in logs), and have found that a 10% difference in parents’ income (0.10 in logs) is associated with about a 4% (0.04 in logs) difference in the incomes of their children as adults. Thus, the intergenerational income elasticity is about 0.4.

Suppose we design a program that gives low-income parents a 10% increase in income during the years they are raising kids. Do you think that their children would indeed earn 4% more as adults, as the regression predicts? Why or why not? Explain, making reference to the ideas of ceteris paribus and omitted variables bias.

Significance of Emotional Intelligence Essay

I’m stuck on an Economics question and need an explanation.

1. Research has shown that Monday is the highest negative-affect day across most cultures. However, in some countries, negative affect is lower on Friday and Saturday than on Sunday. What are two explanations for this discrepancy?2. Zach is a pharmaceutical sales representative and must put on a smile every day at work with his clients. Discuss the emotional labor experienced by Zach. Explain the significance of emotional intelligence demanded of Zach in order to be successful, and how he applies his emotions and moods in his job

The Regression Equation Difference in The Income

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