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Growth in national health spending closely tracked growth in nominal gross domestic product (GDP) in 2010 and 2011, and health spending as a share of GDP remained stable from 2009 through 2011, at 17.9 percent.
Based on the above information, answer the following questions:
Define the economic principle of opportunity cost. Locate current GDP expenditures and express the percentages in a graph or a chart. Explain whether spending 17.9% of GDP is too much or too little to spend on healthcare. Defend your position using the concept of opportunity cost and highlight specific GDP expenditures that are impacted by healthcare expenditure (opportunity cost).
describe an industry that would meet the conditions of a perfectly competitive industry which areahere are many buyers
Suppose that the average variable cost of the firm is given by AVC(q) = 3 + q. Suppose that the firm"s fixed costs are known to be $3. Will the firm be earning a positive, negative, or zero profit in the short run?
Why do economists pay little attention to the algebraic sign of the elasticity of demand for a good with respect to its own price, yet pay careful attention to the algebraic sign of the elasticity of the demand for a good with respect to another g..
A. Explain why the consequences of unanticipated inflation are worse than anticipated inflation B. Discuss the consequences of deflation on the economy. Do deflation can be good, yes no, explain why
like supermarkets, full service department stores like macy's are generally in decline. what factors might these types of stores have in common behind their declines how would you determine which were important and which were not
Draw an aggregate production function with typical shape and label it "F". Make sure to label the axis of the graph. Now, add two more production functions based on the following scenarios. Efficient institutions are adopted in a country. Label t..
What does this decision by Wal-mart tell you regarding the price elasticity of the demand curve that it faces?
Make a paper analyzing the current market situations of Airline industry including a supply and demand analysis that answers following questions:
The principal-agent problem arises when the interests of owners and workers diverge. because of diminishing marginal returns. when the interests of owners and workers converge. because of the profit incentive.
What is the characteristic of a monopoly market that allows a natural monopoly to potentially charge consumers a price premium above long-run LRAC?Need an answer for which the work limit should be 150 words
What components of GDP (if any) would each of the following transactions affect. Explain. A family buys a new refrigerator, You buy a pizza, California repaves Highway 101, Your parents buy a bottle of French wine.
The times spent studying by students in the week before final exams follows a normal distribution with standard deviation 8 hours. A random sample of four students was taken in order to estimate the mean study time for the population of all studen..
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