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Your grandparents are asking you for advice on when they should start collecting social security payments. If they wait until age 66, they will collect $2000 per month; but if they start collecting at age 62, they will collect $1600 per month. Assume they live to be 85, and simplify by assuming annual payments.
(a) When do the higher payments catch up in total dollars received with the lower payment that starts earlier?
(b) If their interest rate is 6%, which plan has a higher PW?
The three problems of resource allocation are faced by
Why do countries trade with each other? What would happen if countries curtailed or stopped trading? Read an article about the current fight over the TPP free trade pact that is before Congress.
Make a price quantity chart for each consumer. Then add a column showing the total quantity demanded for a private good. Next show the quantity price chart showing the total demand for a public good.
The vast majority of new products fail. Estimates of failure rates range from 60% to 90%. Why? Isn't it reasonable to assume that the people working for the major food companies know this and thus take steps to ensure their new products are successfu..
Some Health Economists believe that the demand for medical care may be “supplier” or physician-induced. State whether under a Fee-for-Service and under a Capitation financing structure physicians will have an incentive to increase or decrease demand.
In your own words describe the Wheel of Retailing. How would you classify Walmart in terms of its position on the wheel of retailing versus that of an off-price retailer?
In this problem you will analyse how optimal household's choices react in response to a change in the timing of distortionary taxes. Consider the two-period model of the household. Suppose that the consumer has current income of y, future income of y..
European vacations are getting cheaper than they have been in years. With the dollar gaining 14.6 percent on the euro and 12.1 percent on the British pound over the past 12 months, large numbers of U.S. tourists are already booking vacations to Europ..
Choose any two countries that appear to be culturally diverse. After researching about these countries through variousonline websites of your choice, compare and contrast the cultures of those countries and then indicate how cultural differences infl..
During the fall 2012, public school teachers in Chicago went out on strike over, among other things, salary and pay systems, performance reviews based on standardized test scores, and job protection for laid off teachers. Some people argued that the ..
A product earns an annual gross revenues of $90,000, the variable costs is $60. The fixed cost are $30,000 and the product is sell for $90. The quantity of product sold last year was $1000. The annual profit is most nearly:
Unemployment according to Marx could be classified as what type of unemployment?
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