pset3_2010_answers

pset3_2010_answers - Demog/Econ175 ProfessorRonLee...

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Demog/Econ 175 Professor Ron Lee Spring 2010 Problem Set 3 Due Feb 23, 2010 by 2pm ANSWER KEY/GRADING RUBRIC Page 1 of 4 Problem Set 3 ANSWER KEY Due: Tuesday February 23, 2010 by 2pm 1) Marriage and Divorce a) Define the terms “positive assortative mating” and “negative assortative mating.” Briefly describe the trait pairing of a hypothetical couple that exemplifies each term [in two sentences or less.] Positive Assortative Mating occurs when your mate or your choice for a mate has complementary qualities similar to your own. Negative Assortative Mating occurs when your mate has substitute qualities / qualities opposite to your own. P.A.M. examples: education, height, gender (for gays/lesbians), religion, age. N.A.M. examples: income, time availability for childcare, education, gender (for heterosexuals), some personalities like assertive/passive. b) Use the following facts to answer the sub questions below: Shannon can earn 55 when working 100% time. Erin can earn 90 when working 100% time. Cameron can earn 35 when working 100% time. Each person absolutely requires home production tasks that would take half of the potential time for earning money, but alternatively his/her spouse could complete all of the home production so that he/she could work full time if doing so would maximize utility. For each individual, utility equals money income plus 10 from the necessary home production. i) Calculate the utility of each person when single, assuming they devote 50% time to money earnings and 50% time to home production. Shannon: 27.5+10 =
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pset3_2010_answers - Demog/Econ175 ProfessorRonLee...

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