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Explain arguments both in favor and against using GDP as a measure of human welfare.... In your estimation, how should human welfare be measured? ... To what extent does your analysis incorporate economic reasoning into measurement of human welfare and what does this tell us about the possible limitations of economic analysis when it comes to policymaking?
In consumer-directed health insurance plans it is possible to have low levels of deadweight loss from moral hazard, while also having low coinsurance rates and no supply-side restrictions. State policies that mandated the release of physician report ..
What sort of relationship would you expect to see between the price of bonds and the interest rate?
Suppose the economy is initially in short run equilibrium at a level of output above the natural rate. Use the IS-LM model to graphically show how the levels of income and interest rates change as the economy returns to the natural rate of output in ..
Val-lok Industries manufactures miniature fittings and valves. The company bought a new machine with $8,000 to improve process efficiency. After 3 year useful life, it will be sold out for $2,500. Prepare a table showing the depreciation expense and ..
Elucidate this linkage in words also after that illustrate with a Cumulative Demand - Cumulative Supply diagram.
determine the probability that buying the equipment will produce a return less than that of the bank and the probability that buying the equipment will produce a return more than that of the bank.
Your local newspaper charges $1.50 per line for your ad about a garage sale this Saturday. The reason for the garage sale is that you are cleaning out your house to put it up for sale. When you place the ad with the same newspaper to sell your home, ..
Suppose a firm has a short-run cost equation of C(q) = 0.3q3 – 15q2 + 200q + 100, and short-run marginal cost equation of MC(q) = 0.9q2 – 30q + 200, if the firm produces 25 units of output:
What performance % would you use to trigger executive bonuses for that year.
Tom consumes positive quantities of both jam and juice. the price of jam is 5 cents per unit and the price of juice is 10 cents per unit. Her marginal utility of jam is 10 and her marginal utility of juice is 55. Without changing her total expenditur..
Will’s grade (G) for an upcoming exam depends on the number of hours he studies marginal analysis problems (A), and the number of hours he studies supply and demand problems (R). Specifically, his grade production function is G = 7A0.5R0.5. What is W..
Explain how an economy with a shortterm equilibrium below the longterm equilibrium will adjust to bring the two into alignment. Explain how an economy with a shortterm equilibrium above the longterm equilibrium will adjust to bring the two into a..
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