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ON a graph that has risk probability on the vertical axis and fullness of insurance on the horizontal access (on the origin, person is uninsured. As one moves gradually to the right, insurance starts becoming available from small benefits, to better and better benefits. The endpoint of the horizontal axis is full coverage insurance where insured does not have any out of pocket costs)
Assume 1990 to be the base year. If by the end of 2004 a country's export price index rose from 100 to 130 while its import price index rose from 100 to 115, its terms of trade would equal 113. Why?
We are concerned with the water quality in the Mississippi River. There are 4 groups of people who use the river: environmentalists, fishermen, sightseers, and wastewater plant executives. What is the efficient level of water quality?
Explain, with the use of demand and supply diagrams, the impact on equilibrium price and quantity of membership to health clubs from the simultaneous impact of an effective advertising campaign by the National Health Council and the reduction of comp..
Use the market relates to vertically integrate as:
Kath has $80 (income M) to spend on pizza (good 1x) and coke (good 2x). The price of a slice of pizza is $4 and the price of a can of coke is $1. If Kath buys only pizza, how many can she buy? Formulate the intercept-slope equation of Kath’s budget l..
It is well known by now that industrial production (consumer products and services) usually entails pollution of some sort and often hazardous production practices; yet this production continues.
A worker in Rhode Island can produce 1 pound of corn in 15 minutes and 1 pound of shucked oysters in 10 minutes. A worker in South Carolina can produce 1 pound of corn in 20 minutes and 1 pound of shucked oysters in 60 minutes. Which state has a comp..
Other things the same, if technology increases, then in the long run
In a perfectly competitive factor market, a firm faces a(n):
What are the functions of money? What is the difference between fiat money and commodity money? What are the two responsibilities of the Federal Reserve? Please explain how the three traditional tools of monetary policy work in terms of expansionary..
Jennifer Creek is saving up for a new car. She wants to finance no more than $10,000 of the $26,000 price in two years. She deposits $5,000 into a savings account now and will make monthly deposits for the next two years. If the savings account pays ..
Let’s compare the incentives generated by two different types of public programs. The Aid to Families with Dependent Children (AFDC welfare before reform) provides an income subsidy, G, at 0 hours of work, it is taxed away at a rate t when an individ..
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