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Using the Internet, research the influenza vaccine, or "flu shot." Use the following to guide your research:
Think about the flu shot in the context of a public good.
What are the economic benefits of the flu shot?
In what ways has the government become involved in the distribution of flu shots? For what reasons?
Describe one (1) reason why the private market for flu vaccinations would produce an inefficient outcome.
Describe one (1) way that government involvement could achieve an efficient quantity of vaccinations.
Provide one (1) original example for each of the following:
a private good
a public good.
Which of the following options (alone or in combination) would you recommend that the Congress and the President pursue to reduce our projected Federal deficits and debt and why. Dramatically cut military spending. Raise taxes significantly on the we..
Illustrate what happens to the marginal product of each individual factor as that factor is increased, and the other factor is held constant.
What are the major determinants of the elasticity of demand? When would you want to own a business that sells price-elastic products? Why?
What is the name of the business? Which industry does the business operate in? What does the business produce? What are some examples of factors of production that the business uses? Be specific. What type of market structure does the business operat..
The market for tennis shoes has a horizontal supply curve and a linear, downward-sloping demand curve. Currently the government imposes a tax of t on every pair of tennis shoes sold and does not tax other goods. the total deadweight loss caused by th..
Suppose that a biotech firm makes diagnostic tests and has a fixed-proportions production function in which one unit of output (diagnostic test) is produced using one worker and two units of capital (machines).
Consider a city that has decided to impose a pollution tax on its polluting firms. How would wages and employment be affected? How does the result depend upon the elasticity of supply of labor with respect to environmental quality? The wage elasticit..
If you were the angel investor, what is your certainty equivalent for these two projects? Are you risk-averse, risk-neutral, or risk-lover?
Identify and describe four causes (i.e., types of unemployment). Are some workers more likely than others to be laid off and have a harder time finding another satisfactory job? Explain.
The total market value of production in an economy must equal total: Participants in our economy include:
Describe a national model of universal healthcare coverage. Compare the model's methods of funding for healthcare in the United States. Identify which one you think is best by discussing access and quality detail.
In 2011 the US trucking industry faced the following economic conditions: (i) At last the US economy was recovering from a prolonged slump during which trucking had shrunk its capacity by 14%,
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