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Question: You work for the Kurdish Regional Statistics Office (KRSO) and are working on a report on health expenditures. Your boss particularly wants to know how health insurance could impact the market for health care. Draw a supply and demand diagram for doctors' visits. Show the market equilibrium if there were a private market and no insurance. Show how the outcome of the market would change if there were third-party payments (through insurance). Discuss the change and whether or not you think this impact of insurance happens in the real world.
Oligopolies are known as big businesses. Select an oligopoly and discuss how globalization may have affected its resource allocation.
Assume that the currency-deposit ratio is 0.5. The Federal Reserve carries out open-market operations, purchasing $1 million worth of bonds from banks. This action increased the money supply by $2 million. What is the reserve-deposit ratio?
Explain how changes in the price of goods and consumer's Budget affect the budget line.
If, in addition, currency deposit ratio(c) is 0.05 and excess reserve ratio (e) is 0.15, what is money multiplier. Explain why money multiplier differs from simple deposit multiplier.
Does the federal Reserve bank's lending, the FDIC, and a centralized currency make is stronger as an economy and nation? In a paragraph, explain how and why.
Illustrate why is it important for average person to understand the basic mechanisms of supply and damand in the market economy.
Suppose you are given the following equation for production function:
Find the capital value of a fort at a strategic location, where the annual rent is $850,000, paid in perpetuity, and the interest rate is 4% compounded continuo
Provide an example of a good or service with inelastic demand and another good or service with elastic demand
What advantages do you envision in using this matrix in analyzing product lines? Have you used this tool before?
Keeping in mind our discussion of final cause and Aristotle, what are the three primary ethical issues involved in globalization?
How to show effects on consumer/producer surplus by opening up to trade?
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