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Jim currently pays premium $P for his health insurance, which he purchases in a competitive health insurance market, and covers 80% of all his healthcare costs (i.e. 20% coinsurance rate; no deductible or catastrophic cap). If he were to instead purchase insurance that covers 90% of his healthcare costs, the premium would be expected to increase for three reasons. What are those three reasons, and explain how each operates to affect the relative price of more complete coverage.
Suppose government spending increases in a closed economy. Would the effect on aggregate demand be larger if the Bank of Canada took no action in response, or if the Bank were committed to maintaining a fixed interest rate.
If between 2003 and 2013 the economy's real gdp grew from 20 million to 40 billion, what was the average annual growth rate in the economy?
In your own words, explain what corporate social responsibility (CSR) is. Name two examples of social responsible companies you know and explain why you consider them so.
Elucidate how much the last input added to the total amount of revenue. Elucidate how much the last input added to the total amount of production.
To maximize profit, should the firm lower its price, increase its price, or leave the price unchanged? How would you change your response if marginal revenue is $1.50? Explain your responses.
application barriers to entry and product homogeneity and their effectsbarriers to entry are forces that inhibit firms
The reason that the increase in population growth in the 19th and 20th centuries did not lead to famine as Thomas Malthus predicted was because
Why is an individual bank more limited in its ability to create money than the banking system as a whole? What are the limitations on the maximum expansion of money supply? What is the effect on the deposit expansion process if banks choose to hold m..
Suppose that consumption expenditures, investment expenditures, and government purchases are 75 billion, 25 billion and 20 billion, respectively. How large should the GDP be so that the net export is zero?
You live in a small town with basic medical care facilities and a couple of general practitioner physicians. One of the physicians has said that your cousin needs to be seen by a specialist. However, the nearest specialist is 3000 miles away, on the ..
The congestion fee was raised to £8 in July 2005. Illustrate the new equilibrium point on your graph also assuming new charge is now optimally set.
HMK is a handbag making company. They have a forecasting team which provides them thedemand forecast for their product. The report provided by the forecasting team indicates the demand forecast for the next 6 months. It takes a handbag maker 15 minut..
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