MACROECONOMICS PAPER ASSIGNMENT

The Physicians for a National Health Program

and Single Pay National Health Care Insurance

Due April 12

One of our country’s most significant fiscal policy issues is rising health care costs. The Physicians for a National Health Program (PNHP) is a non-profit organization of 20,000 physicians, medical students, and health professionals who support single-payer national health insurance (or Medicare For All) as a means of reforming health care in the United States. It is currently the health care position of Presidential candidates Bernie Sanders and Elizabeth Warren.

For this paper assignment, each student will review the PNHP website (as well as other sources contained in Blackboard) and write a TYPED paper of no more than 300 words with respect to the following:

- What is single payer health care?

- What does PNHP consider the most serious health care spending problem? Why?

- What are PNHP’s biggest problems with Obamacare, which was another way of dealing with health care reform?

- How will single pay health care be paid for?

- Do you agree with PNHP’s positions? If so, why? If not, why not?

Prior to writing your paper, watch the Crash Course Economics video “The Economics of Heath Care” and read the “Health Care Primer” found in the Blackboard folder. As part of your paper, cite at least one outside article or book and reference it at the end (name, author, date, web link). Grading will be based on your knowledge of PNHP’s position, addressing each of the above questions (using the primer and video as a reference), and the thoughtfulness in arguing your position. The paper can be submitted via email attachment or through Blackboard – no hard copies.

with the aid of a diagram explain permanent income hypotheses

Are you concerned about inequality in Australia as an ethical issue? Refer to Wight’s taxonomy in your answer. Using internet research or otherwise, do you think inflation causes inequality? Do you think the ownership of assets causes inequality? Are you in favour of an inheritance tax to alter inequality?

If a country has persistently high inflation over the long-run, say 10% pa, explain how this will affect the value of the nominal exchange rate over the long-run. Assume that inflation elsewhere is 2% per annum.

An essay discussing economic and social consequences of the corona virus pandemic. The essay should be typed and It should be around two pages long, more or less 800 words (the very maximum 1200 words). Use Times New Roman 11p with 1.5 line spacing.

Anti-trust policy may be different between a market for network goods and non-network, or traditional, anti-trust policy. What tension causes this?

A.Network goods are often produced by a monopoly or an oligopoly, but the low level of competition in the market in the market is balanced by the high level of competition for the market.

B.Network goods are often produced by a monopoly, but that is less important than the fact that the monopoly gained that position by producing the best good.

C. The network good may not be the best good, but that is balanced by the competition in the market.

D. Network goods are often produced by a monopoly or an oligopoly, but the low level of competition for the market is balanced by the high level of competition in the market.d

E. The monopoly profits are a reward for winning a standards war that is often costly.

F. Monopolies are equally inefficient for network and non-network goods. Politics are the only reason that anti-trust is different for network goods.

Discuss the impact on the oil market if Saudi Arabia dramatically increase the quantity of oil it produces and sells each year. Specifically, address how this will effect market quantity, market price, and the amount of profit Saudi Arabia and other oil producers make selling oil. Assume that oil production is an oligopoly market where there are only a few firms and they all sell the same product (commodity).

Identify a product that is monopolisticly competitive. Specifically, define what products it could be substituted for and also what characteristics make is differentiated from those products. Discuss what the seller of the product could do to increase the differentiation of that product, and
Discuss what impact increasing the differentiation of that product would likely have on the products price and the seller's profits earned from the product.

Draw two qualitative sketches—one showing how a worker’s budget constraint would be affected by a lump-sum payment (such as a Universal Basic Income), the other showing how her budget constraint would be affected by the Earned Income Tax Credit (hint: check section 6.3). Use them to explain how the policies differ in their incentives regarding labor force participation for workers already choosing to work.

b. Draw a second set of sketches identical to the first. Use them to explain how the policies differ in their incentives regarding labor force participation for workers not previously working.

Platinum is a rare metal. Its 2 biggest uses are in jewelry and in the automotive industry, where it is used in the manufacture of automobile engines.

From August 2016 to June 2019, global platinum prices decreased by 30%.

From July 2019 to October 2019, global platinum prices increased by 22%.

Assuming that the market for platinum is highly competitive, use supply and demand concepts to explain whether the following supports an increase in the price of platinum or a decrease in the price of platinum. Explain why.

1. Millennials (individuals born between 1980 -2000) prefer platinum because they like its finish and ability to hold intricate jewelry designs.
2. The price of gold increased by 50%
3. Platinum mines in South Africa, which supplies 70% of the world’s platinum, were affected by a long strike by miners.
4. Lower demand for diesel engines which use platinum
5. South Africa places a special tax of 10% per pound of platinum which is paid by sellers of platinum.

• If the US economy is at the natural rate of unemployment with the level of real GDP at potential output, what would expansionary fiscal or monetary policy do to the economy?   How would the economy be effected in the short run and long run? Does the Phillips Curve theory explain what happens?

1. Explain the importance of slavery in the American South in the period from 1815 to1860. Your answer should take into account topics such as

• The class structure of the South, including different social groups and their relationship to slavery
• Variations in slavery depending on local conditions and economic activities
• Differing status among slaves on plantations
• Ways slaves resisted their oppression
• Slave culture, including slave families, songs & stories, and religion
• The defense of slavery as a positive good that southerners constructed from the 1820s, and especially 1830s onward.

Discuss the Solow growth model and its implications on convergence between countries. It is a 1500 word essay. If you want to do it in parts I have 19 credits remaining at my account.