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PLEASE ANSWER EACH QUESTION IN THE SPACE PROVIDED BELOW. There needs to be at least 100 words per question as a WHOLE. These are BASIC questions and Answers Please no references.
o Economist George Stigler once wrote that, according to consumer theory, "if consumers do not buy less of a commodity when their incomes rise, they will surely buy less when the price of the commodity rises." Explain this statement using the concepts of income and substitution effects.
Some AIDS activists believe that health insurance companies should not be allowed to ask applicants if they are infected with the HIV virus that causes AIDS. Would this rule help or hurt those who are HIV-positive? Would it help or hurt those who are not HIV-positive? Would it exacerbate or mitigate the problem of adverse selection in the market for health insurance? Do you think it would increase or decrease the number of people without health insurance? In your opinion, would this be a good policy? Explain your answers to each question. (there are many questions in this post still only needs 100 words)
Do you favor socialized healthcare?
How does the amount of GDP accounted for by the US gov't compare to the GDP accounted for by other nation's gov'ts (particularly European nations)?
Explain why a monopolist will never produce a quantity at which the demand curve is inelastic - hint - if demand is inelastic and the firm raises its price, what happens to total revenue and total costs?
Define what is a rule set by the Fed, which specifies the minimum amount of reserves (or funds) a bank must hold, expressed as a percentage of the bank's deposits.
Some people advocate government funding of college scholarships as a way of creating a more egalitarian society. Others argue that scolarships help only those who are able to go to college. Do your answers to the preceding questions shed light on ..
Assume that there are 2-states that do not trade, Iowa and Nebraska. Each state manufacture the similar two goods: corn and wheat.
Economic and political system in which factors of production are collectively owned and directed by the state; theoretically classless society where everyone works collectively for the common good is generally referred to as?
Imagine there are two polluters of a given substance with the following marginal-abatement cost functions MAC1=200-e(1) and MAC2=300-3e(2) where emissions are measured in tons/year and both MAC1 and MAC2 are measure in $/ton. Draw on a graph MAC1...
Illustrate what were the characteristics of Great Britain's economic relationship with India in the 17th and 18th centuries, How would you explain their success in their competition with the Dutch.
questionthefollowingquestionwillexaminewhathappensinthemoneymarketwhentheinterestrateapproacheszero.a
An internal study at Mimeo, revealed that much of its workers assembles 3 copiers per hour and is paid $3 for every assembled.
Assume you have a negotiation between Management and Labor concerning Labor wages. Management and Labor do well when they each do the opposite of what other does.
Discuss the relationship between each of the following variables based on the experience of U.S. economy over the past 30 years.
it is estimated that the financial crisis of 2008 led to a loss of 7 trillion in the real estate industry due to the
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