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Nobel Laureate Robert Folgel of the University of Chicago has argued, "Expenditures on healthcare are driven by demand, which is spurred by income and by advances in biotechnology that make health interventions increasingly effective."
a) If Fogel is correct, should policymakers be concerned by projected increases in health care spending as a percentage of GDP?
b) What objections do some economists (and do YOU) raise to Fogel's analysis of what is driving increases in spending on health care?
Monopoly Rinks is the only ice skating facility in Mapleville. The next closest rink is about 100 miles away. It has determined that its demand curve is
The long-run aggregate supply curve is vertical at economy's potential output level. Why is the long-run aggregate supply curve situated at his level of output rather than below or above the potential output level?
If the market for alcoholic beverages is in equilibrium, then the drinking age is reduced from 21 to 18 what will happen to the equilibrium price and quantity of alcoholic beverages.
Suppose the movie theater cannot price-discriminate and needs to charge both students and professors the same price per ticket. If the movie theater charges $5, who will buy tickets and what will the movie theater’s profit be? How large is consumer s..
choose and research an industry where there has been a pattern of change in a particular market model monopoly
California's newly deregulated power market start operation. The large power utilities in state turned over control of their electric transmission amenities to the new Independent System Operator (ISO) to promise fair access to transmission through a..
1. a small modular nuclear reactor delivers 100 mwe and has a capital cost of 1500kwe costs 5 millionyear for
Using the AD-AS model, if consumers and business become more optimistic about the future direction of the economy and increase spending, then: aggregate demand will decrease, aggregate demand will increase.
Two months later, Mrs. Dodge split the workforce into two specialty groups, appointing Betty as the supervisor of one section and taking the other for herself. Betty's group consisted of three people: the two newest, whom she had trained, and one ..
Under what circumstances, and why, would the government be opposed to a merger of two firms How does the Justice Department decide which mergers to challenge
A change in the meeting time of the introductory one’s decision to go swimming economics course from 11:00 A.M. to 7:30 A.M. on one’s decision to attend the lectures
a software company decided to build a larger factory at a cost of 50 million that would be operational for 5 years. at
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