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According to a Congressional Budget Office (CBO) report: CBO projects that the population age 65 or older will increase by 87 percent between now and 2037, compared with an increase of just 12 percent over that period in the number of people ages 20 to 64. . . . CBO . . . estimates that, unless changes are made to Social Security, spending for the program will rise from 5.0 percent of GDP today to 6.2 percent by 2037. Why is the over-65 population increasing so much more rapidly than other age groups? Is there a connection between the increases in the over-65 population and the projected increases in federal spending on Social Security as a percentage of GDP? Briefly explain.
What is the profit maximizing rule for firms Explain why it makes sense. For a purely competitive firm, price equals marginal revenue. What is the profit maximizing rule for purely competitive firms Can you see why, if price is set by the market
cubic cost function TC = 3Q3- 40Q2+ 250Q + 900 faces the following market demand function for its product P = 2000 - 10Q The management of the firm decides to follow a three-stage market strategy- find the level of output that minimizes its average t..
George has been selling 5,000 T-shirts per month for $8.50. When he increased the price to $9.50 he sold only 4,000 T-shirts. What is the demand elasticity? If his marginal cost is $4 per shirt, what is his desired markup and what is his initial a..
the lecture described how taxing income may change savings behavior. suppose instead that the government taxed
Identify both the positive and negative aspects of their approach
A full-wave bridge rectifier using silicon diodes is supplying a resistive load of 1 kW. It is supplied from an ac source of 100 V at 50 Hz. Calculate DC output voltage and DC load current.
a small business which produces plastic vacuum-suction covers for round household dishes has a monopoly that is
A firm can hire 10 workers at a wage of $10 but has to pay a wage of $12 to ALL workers to get the 11th worker. What is the marginal cost of adding the 11th worker.
Suppose that the price of good x rises and price of good Y falls in such a way that the consumer's new optimal consumption bundle lies on the same indifference curse as his old bundle. Compare the quantities demanded between the old and new bundle..
What is the difference between absolute and comparative advantage theory of trade?
select any 3 parts of the united states constitution or the amendments to the constitution and write a discussion post
The Federal Income Tax Base and Policy Alternatives
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