The following model allows the return to education to depend upon the total amount of both parents’ education, called pareduc: log(wage)=β0+β1educ +β2educ·pareduc +β3exper +β4tenure+u❑
a) What is the return to another year of education in this model?
Holding all other factors fixed we have
∆ log(wage)=β1∆ educ+ β2∆ educ·pareduc=(β1+β2· pareduc)∆ educ
Dividing both sides by ∆ educ gives the result (β1+β2· pareduc)
b) What sign do you expect for β2? Why

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.

States that if there is no specific employment contract saying otherwise, the employer or employee may end an employment relationship at any time, regardless of cause. rule of fair treatment due-process policy rule of law employment flexibility employment at will

Consider a consumer who is contemplating a new automobile purchase. she has narrowed her decision down to two brands, honda accord and ford taurus. she has identified gas mileage, price, warranty, and styling to be important attributes to consider in her decision