14.When supply and demand are linear curves, the incidence of the tax is always split equally between producers and consumers.
A.True
B.False
15.Valuing the loss of a non-market good due to pollution requires methods of imputing the marginal willingness to pay for damage reduction/environmental quality improvement because market prices do not exist.
A.False
B.True
16.An environmental program is ________ if the net effect of that policy has proportionally ________ effect on low-income people as on high-income people.
A.progressive; less
B.progressive; greater
C.regressive; greater
D.progressive; the same
17. The ________ is a weighted average equal to the sum over all possible events of each outcome times the ________ of each outcome.
A.present value; discount factor
B.expected value; probability of occurrence
C.present value; probability of occurrence
D.expected value; discount factor
19.If the inverse demand curve is: P = 50 - 2QD, the consumer surplus at 10 units of consumption is _______.
A.$100
B.$220
C.$30
D.$140
In: Economics
Suppose that the production function for output in an economy is given by Yt=Kt0.25N0.75
The number of workers, N, is constant. The saving rate is s, and the depreciation rate of physical capital is δ.
a) Write down the equation showing the evolution of physical capital stock over time. Explain in words.
b) Derive the steady state levels of capital per worker and output per worker in terms of the saving rate (s) and the depreciation rate (δ).
In: Economics
Part 1
There are many ways we can express the level of federal government
debt in the U.S. They are 1) total amount of debt in current
dollars, 2) level of debt relative to real GDP, 3) cost of debt
(view lesson 9.1).
Compare and contrast the 3 ways to measure the debt then make a case for which the one you think most accurately represents the true cost of this debt to society. Include evidence and reasoning.
In: Economics
Discuss how technology has impacted healthcare services, healthcare providers cost and productivity.
please give me 1-2 page outline and subtopics to include in my research. i have to write a research paper on it.
thank you
In: Economics
Choose a company of laptops of your own choice and explain the following characteristics of the chosen product.
1) Substitutes and complements goods of the product and their implication.
2) Major current and past reason for variation in demand and supply.
In: Economics
Governor John has decided that, rather than build a new nuclear power plant to service power needs, the state should save an equivalent amount of energy. As one component of an efficiency plan, he has turned to you, his top aide, to design a policy to encourage adoption of compact fluorescent (CF) lightbulbs. Although CFs save a tremendous amount of money (and energy) over their lifetime, they are quite expensive initially ($20 or so per bulb in 1993). In addition, they give off a slightly bluer light than normal bulbs, are generally somewhat larger and cannot be used with dimmer switches. You've thought up three possibilities: Utility Rebates. Have publicly-regulated electric companies provide "rebates" of 75% of the purchase price to consumers who install CF bulbs. Allow utilities to cover the cost of the program through higher electricity rates. Government Procurement Contract. Have the state government agree to purchase, using general tax revenues, a large quantity of bulbs from an in-state supplier (at competitive rates). The bulbs would be used to retrofit government buildings. R&D Subsidies. Provide funds from general tax revenues to in-state firms to develop CF bulbs that can be sold at lower cost and/or are more comparable to standard incandescent bulbs. Continued receipt of such subsidies should be conditional on cost-reductions or performance enhancements. For each of the three plans, answer the following questions: a) How expensive will the policy be for the state (i e taxpayers)? (7.5 MARKS) b) What obstacles to successful implementation might arise? (7.5 MARKS) c) If you had to pick one policy to push for, which would it be? Why?
In: Economics
1 Price discrimination is common in healthcare. Discuss why most healthcare providers are able to charge different groups of consumers different prices for the same products.
2 Assuming that you are the manager of a not-for-profit hospital in a competitive market and decide to charge your consumers less than the profit-making price, discuss what effect this decision will have on your profit and on your career?
3 According to you what is the best incentive method for healthcare providers, keeping in mind efficiency and quality of services?
In: Economics
What are the advantages and disadvantages of having strong government involvement in financing of health care and the provision of health care services (summarize in 300 words).
In: Economics
Q1) Suppose you are a farmworker couple, recently married, living in Pakistan. In a good year, you might make $600. Infant mortality rates are high—your children will have a one in ten chance of dying during their first year. The likelihood of your children attending more than a couple of years of school is also very small. Nationwide, only 38% of boys and 27% of girls attend primary school, and you are among the least likely to have access to such services. Systems of public welfare, “social security” retirement pensions, and public health care are very limited.
a) What are the economic benefits and costs to you, the parent, of having children?
b) On strictly economic terms, would you prefer to have two babies or five?
In: Economics
THE DEMOTIVATION OF CEO PAY
How much did your CEO get paid this year? What did any CEO get
paid? You may not know the exact amounts, but you probably think
the answer is, “Too much money.” According to research from 40
countries that probed the thoughts of CEOs, cabinet ministers, and
unskilled employees, we all think leaders should be paid less.
Beyond that, we are clueless.
Where we err (fail to adhere to the proper or accepted standards)
can be calculated by an organization’s pay ratio, or the ratio
between CEO pay and average worker pay. In the United States, for
example, the average S&P 500 CEO is paid 354 times what the
lowest-ranking employee makes, for a ratio of 354:1 (eight times
greater than in the 1950s). Yet, U.S. participants in the study
estimated that the ratio between CEOs and unskilled workers was
only 30:1! Americans are not alone in making this gross
underestimate: Participants from Germany, for instance, estimated a
ratio of around 18:1 when the actual is closer to 151:1.
In general, people worldwide are unhappy with—and demotivated
by—their perception of inequity, even when their estimates of the
ratios are far below the reality. Taking the German example
further, the ideal ratio of CEO pay to unskilled workers as judged
by study participants was around 7:1. To put it all together, then,
people think the ratio should be 7:1, believe it is 18:1, and don’t
realize it is actually 151:1. For all the countries worldwide in
the study, the estimated ratios were above the ideal ratios,
meaning participants universally thought CEOs are overpaid.
How does this affect the average worker’s motivation? It appears
that the less a person earns, the less satisfied the person is with
the pay gap. Yet virtually everyone in the study wanted greater
equality. The ideal ratio, they indicated, should be between 5:1
and 4:1, whereas they thought it was between 10:1 and 8:1. They
believed skilled employees should earn more money than unskilled
individuals, but that the gap between them should be smaller.
No one in the United States would likely think the 354:1 ratio is
going to dip to the ideal of 7:1 soon, although some changes in
that direction have been suggested. Other countries have tried to
be more progressive. The Social Democratic Party in Switzerland
proposed a ceiling for the ratio of 12:1, but putting a cap into
law was considered too extreme by voters. No countries have yet
been able to successfully impose a maximum ratio.
Therefore, the job of restoring justice perceptions has fallen to
CEOs themselves. Many CEOs, such as Mark Zuckerberg of Facebook and
Larry Page of Google, have taken $1 annual salaries, though they
still earn substantial compensation by exercising their stock
options. In one extreme recent example, Gravity CEO Dan Price cut
his salary by $1 million to $70,000, using the money to give
significant raises to the payment processing firm’s employees.
Price said he expects to “see more of this.” In addition,
shareholders of some companies, such as Verizon, are playing a
greater role in setting CEO compensation by reducing awards when
the company underperforms.
there are 2 questions:
1- Read the case titled, “The Demotivation of the CEO Pay’ and
explain the following two questions:
a. Which motivation theory would you use to explain the above case?
Why
b. Can you solve the problem raised in the above case in all
countries? Why?
2- You are a management consultant in Oman. One of the Omani
domestic companies wants to expand to two different countries – one
in Asia and the other one in North America. The company is hiring
you to assist them in understanding ‘material culture’ and ‘social
culture’ so that they can create appropriate strategies for these
two countries.
a. Explain what is ‘material culture’ and ‘social culture’ to this
firm with appropriate framework
b. What are the problems this firm would face if 2(a) is not
handled properly?
In: Economics
Identify the advertising campaign parameters in the Incredible India Campaign? 4. How was the recent Incredible India Campaign different from the previous one? 5. Identify the components of the creative brief for the incredible india 2.0
In: Economics
Only a very small proportion of persons who know or suspect that they have a potentially lethal communicable disease would maliciously infect others. Why then do some persons in this situation feel it is rational to avoid treatment and not warn others of the risk? Carefully explain your answer. You may find it helpful to structure your answer around the current coronavirus pandemic.
In: Economics
Suppose the Florida legislature is considering a measure that would provide publicly-financed health care to all new immigrants for a one-year period. If you were asked to do a cost-benefit analysis of the proposal, what sorts of costs and benefits would be important to consider? Why? Be sure to use the concepts of public goods and externalities in your answer.
In: Economics
The relationship of principal and agent is pervasive in our economy—e.g., stockholder and manager of a company, seller (or buyer) and real-estate broker, client and lawyer, etc. List and discuss at least three reasons why the principal-agent relationship is different in health care? In addition, use at least one specific health care example in your answer.
In: Economics
Use the equation C=a+bY to motivate a discussion of the Keynesian consumption Function. Graph this function and then show the effect of at least four variables on aggregate consumption expenditures. You must provide a complete explanation and diagram of each case of how each variable influences the level of consumption.
In: Economics