To test the effectiveness of a job training program on the subsequent wages of workers, we specify the model log(wage) = β0 + β1train + β2educ + β3exper + u, 11 where train is a binary variable equal to unity if a worker participated in the program. think of the error term u as containing unobserved worker ability. if less able workers have a greater chance of being selected for the program, and you use an ols analysis, what can you say about the likelybias in the ols estimator of β1?

Why is efficiency an important economic goal?

Legal requirements, suppliers and distributors, competitors, and market profiles are contained in the element of your business plan. a. introduction b. operating plant c. industry d. business information

4. understanding different policy options to correct for negative externalities carbon dioxide emissions have been linked to global warming. the following table lists some possible public policies aimed at reducing the amount of carbon dioxide in the air. for each policy listed, identify whether it is a command-and-control policy (regulation), tradable permit system, corrective subsidy, or corrective tax. public policy command-and-control policy tradable permit system corrective subsidy corrective tax the government charges factories $110 for every ton of carbon dioxide they emit. the government orders every factory to adopt a new technology, which reduces carbon-dioxide emissions into the atmosphere. trees take carbon dioxide out of the air and convert it to oxygen, so the government funds a tree-planting initiative by offering $110 to any citizen who plants a tree. the government limits total carbon-dioxide emissions by all factories to 180,000 tons per month. each individual factory is given the right to emit 140 tons of carbon dioxide, and factories may buy and sell these rights in a marketplace.