Would you personally favor this system

Assignment Help Business Economics

Reference no: EM131245357

Consider replacing the current U.S. economic system with a system where everyone is paid exactly the same salary. Assume that each family would receive an equal share of GDP. For a typical four-person household, this would be over $90,000.

i. Would you personally favor this system? Explain.

ii. What problems would exist?

iii. What mechanisms could be enacted to overcome these problems?

iv. Who would benefit from this system?

v. What jobs would be hard to fill?

Reference no: EM131245357

Questions Cloud

The current dollar-pound exchange rate : You are given the following information. The current dollar-pound exchange rate is $2 per pound. A U.S. basket that costs $100 would cost $120 in the United Kingdom. How much is the dollar overvalued/ undervalued? What do you predict the U.S. real ex..

What is the asymptotic complexity of this algorithm : To solve the problem, compute the distance between each pair of points, using the equivalence processing algorithm to merge clusters whenever two points are within the specified distance. What is the asymptotic complexity of this algorithm? Where ..

Describe the causes of world war one : Choose any five (5) Identification Terms. Provide who or what the term is, when they lived or occurred, and at least five (5) facts as to why they are important to history.

Provide the good may utilize the information : Distinguish between a change in demand and a change in the quantity demanded (movement along the demand curve). Propose two methods in which organizations that provide the good may utilize this information.

Would you personally favor this system : Consider replacing the current U.S. economic system with a system where everyone is paid exactly the same salary. Assume that each family would receive an equal share of GDP. For a typical four-person household, this would be over $90,000. Would you ..

Prove that insertion sort will always produce a sorted array : The algorithm should return a stack containing the records in sorted order (with the least value being at the top of the stack). Your algorithm should be Θ(n 2 ) in the worst case.

Reorder the six real estate trusts in problem : The first widow leaves you unsure as to whether she is risk averse. What advice can you give her? - The second widow shows definite risk aversion. What is your advice to her?

What was the average velocity of the stone : A bird is flying horizontally over level ground at a steady known speed v (m/s). As it flies, bird releases a stone ("drops" it) from its beak. What was the average velocity of the stone over the time interval when it was a projectile

Use the demand-supply model for the bond market : Use the demand-supply model for the bond market to answer the questions: what happens to the equilibrium price of bonds and which curve shifts which direction. if the stock market collapses?

User Account

All Pages