ECON 114 HW2

# ECON 114 HW2 - Economics 114 Development Economics Homework...

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Economics 114 Development Economics Jinmao Xu Homework 2 4715033 Summer 2011 1. Provide the statistics of the country of Lesotho : a. The total fertility rate is 3.26 births per woman; b. The total population is 2,066,919; c. The growth rate of population 0.332%; d. The growth rate of GDP is 2.4%; e. The crude birth rate is 26.93 births/1000 population; f. The death rate is 15.91 deaths/1000 population; g. The natural increase is 11.30/1000 population; h. The population of the largest city is 118,355; i. The population of 2 nd largest city is 57,059; j. The percent of population employed in agriculture is 71% in 2000 and after; k. (a) Median age female is 22.9 years; (b) Median age male is 22.8 years; (c) Percent 0-14 years old is 35.7%; 1. Provide an interesting statistic not requested; The average years of schooling adults is 4.2 years, which means, their citizens' literacy is really low. 2. When a couple decide to have a child, the child has his/her costs of benefit associated with the family. Couple will get a certain amount of utility from the child, and the

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child will also needed to feed, this is a type of costs, so couple will have to maximizing the difference the utility and cost of children. If a ban on child labor, this means an increase on the cost to children, because if the child works now, there will be some kind of fine toward his/her parent. Hence, it is likely to reduce fertility rates. 3. False – The reason why this statement is being false is because if a child who died at age 3 instead of age 6 (which meant by the statement, whose mortality shifted from late childhood to early), their parents will absolutely try to rebirth another child, so the fertility rate should be increasing while the mortality shifted from late childhood to early, assume that the total mortality among children remained constant. 4. In recent years, economists use the conventional theory of consumer behavior assumes that an individual with a given set of tastes or preferences for a range of goods tries to maximize the satisfaction derived from consuming these goods, and children are also considered as a special kind of consumption good, so the fertility becomes a rational economic response to the consumer's demand for children relative to other goods. There should be a situation that when household's income raises, but the desire of children declines. The reason why this situation happens is because when the price or cost of
children rises as a result of, say, increased educational costs, increase the opportunity cost of the mother's time to take care of more children, and the opportunity cost to educating children, and school fees or the establishment of minimum-age child labor laws, for examples, could be the reasons explaining when income increased, the average number of children declined. 5. (a) P

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## This note was uploaded on 03/03/2012 for the course ECON 106 taught by Professor Sengupta,j during the Fall '08 term at UCSB.

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ECON 114 HW2 - Economics 114 Development Economics Homework...

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