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In many economic system what goods/services are produced, how they are produced and for whom is decided by the government-everyone receives healthcare it is paid for by taxes not by insurance premiums. In the U.S health care is decided by the market, deciding what to provide (what products to develop) how it is produced and who receives the output-who gets the care is primarily decided by the market. Compare the two systems and should the government decide the what healthcare, how and for whom?
a rich man has 1,000,000 in the bank earning 7% interest. He plans to give away 100,000 at the end of the year and to increase his gifting by 10% each year there after. How long with the million dollars last?
A purely competitive wheat farmer can sell any wheat he grows for $10 per bushel. His five acres of land Elucidate how.
Examine the level of business activities in the U.S. economy over the past few months. Which trends do you find of interest? What stage of the Business Cycle is the U.S. economy, given the current levels of business activity?
A small country can import a good at a world price of 20 per unit. The domestic supply and demand curve of the good is S = 8 + 2P D = 80 − P. Show graphically and calculate the efficiency loss, government revenue and the net welfare effect of the tar..
The Financial Advisor is a weekly column in the local newspaper. "I need a new car that I will keep for 5 years. I have three options. I can (A) pay $19,999 now, (B) make monthly payments for a 6% 5-year loan with 0% down, or (C) make lease payments ..
Treatment X is listed to provide a survival rate of 75% It is also determined that no intervention by itself provides a survival rate of 5% What can we conclude?
Assume the economy has a GDP of $11,500 billion. The unemployment rate is at 7.3% and has been slowly rising for the last 6 months. Inflation was at 2.3% one year ago but has since dropped to near 0%. The MPC in the economy is .75 and the natural rat..
Promoters of a major college basketball tournament estimate that the demand for tickets on the part of adults is given by Qad = 5,000 ? 10P, and that the demand for tickets on the part of students is given by Qst= 10,000 ? 100P. The promoters wish to..
When comparing perfect competition and monopoly, a major assumption made is that
Illustrate what is the market elasticity of demand. What is your elasticity of demand in this Cournot oligopoly.
Consider a competitive market. Starting from the long-run equilibrium, suddenly, fixed costs decrease, although variable costs remain unchanged. Discuss the short-run and long-run changes in market equilibrium. Include all figures and diagrams you nd..
Evaluate Rusal's prediction by using the demand and supply equations to make a prediction about the movement of world aluminum price.
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