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The Japanese health care system has two unusual features compared with many other nations’ systems: (a) hospitalization rates are very low, but once a patient is admitted to the hospital, lengths of stay are very high; and (b) the population seems to receive prescription drugs at a very high rate. What organizational features of the Japanese system are distinct to it, and which of them could plausibly lead to these two features?
Suppose the U.S. and Mexico both produce 2 goods, tablets and cereal, using 2 inputs, capital (K) and labor (L). The production of tablets is capital-intensive, and that of cereal is labor-intensive. The U.S. is a capital-abundant country, and Mexico..
In Plato’s virtuous state composed of virtuous citizens, he argues that it must allow for _____ & thus is neither elitist nor totalitarian (i.e., dictatorial). Virtue ethical theories are teleological because they are based on natural ___________.
Suppose you are a lender. The T-bill interest rate is 1.4%. If you do not lend to a borrower during a round of the experiment, which one of the following would happen in that round?
How does the United States trade deficit, gross domestic product, the employment rate, and the inflation rate impact the economy and relate to the business cycle? Why is it difficult to predict changes in the business cycle?
Suppose there are two inputs in the production function, labor (L) and capital (K), which can be combined to produce Y units of output according to the following production function: Y = 30K + 10L The firm wants to produce 600 units of output.
Equilibrium quantity must increase when demand
A Japanese carmaker plans to expand its production in the United States. The company borrowed $170 million for this expansion at an interest rate of 8% per year. The loan will be repaid in equal payments at the end of each year over a 15-year period...
We are seeing a merging of media firms. For example, companies like Verizon now provide phone, cell, TV and internet. A common form of selling services involves putting them together in packages or “bundles” and offering them for a lower price than i..
Botswana is one of the few economic success stories in Africa. While still plagued with many problems (e.g. one of the highest rates of AIDS infection in the world), it has managed to transform itself among the poorest countries to a middle income co..
Identify the market structure that best matches the competitive qualities found in the market where these products are made and sold. Explain your answer.
The rise in the US trade deficit during the 1980s was due largely to the rise in the US budget deficit. On the other hand, the popular press sometimes claims that the increased trade deficit resulted from a decline in the quality of US products relat..
Consequently, the firms’ top accountants and financial manager argue that the firm should raise the price of the product 10 percent above its original target to help recoup some of these costs. Does such a strategy make sense? Explain carefully.
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