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In 2004, Congressman Dennis Kucinich proposed the Free Market Drug Act. This legislation would have removed patent protection on drugs developed with public funds and given control over pharmaceutical R&D to the National Institutes of Health (NIH). Evaluate this type of proposal in terms of the effects on price, competition, and level of innovation.
Trace through the circular flow model in Chapter 6. What is the point of the circular flow model, what are some leakages and injections into the circular flow model, and how are the leakages and injections related to the circular flow?
Describe the historical and institutional developments of the major US economic security programs since the early 20th century and identify the major attempts to reform the system throughout the period.
In game theory, a player following a maximum strategy
Please discuss some advantages and disadvantages of the new age of “interactive communication”. Is this evolving form of communication better or worse than letter writing? Does your opinion change if/when it is expected that you should always respond..
Elucidate how Illustrate what the balance sheet will look like (comparison to above) if Brimstone declares a 10% stock dividend.
Imagine that the mayor has hired you as a consultant to evaluate the increase in aggregate demand in the city where you live. Describe to the mayor one (1) aggregate demand and supply factor that would have the greatest impact on the economy of your ..
Calculate the original market equilibrium price and quantity in absence of the price support policy.
I am trying to aggregate demand functions. If the two functions are Q1=150-10P and the second function is Q2=150-5P, what would the aggregate function be?
Illustrate what criteria are you using to classify this industry as an example of oligopoly.
Production elasticity:
A used car dealer purchased my 1992 Ford Tempo for $1,000. He paid a worker $200 to wash it. He purchased four tires for a total of $400 to replace the existing tires on the car. He sold the car for $4,000. All these economic activities took place in..
The Mariner Company, a calendar year corporation, issued $1,000,000 of 5% bonds at a price generating a 4% yield. The bonds were dated January 1, 2006 and were issued that day. Compute the selling price of ONLY the bonds. What is the TOTAL amount of ..
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