Questions
1 Markets and government regulations are both needed to provide healthcare goods and services effciently and...

1 Markets and government regulations are both needed to provide healthcare goods and services effciently and effectively. Do you agree. Justify your answer.

2 Give an example of a healthcare circumstance in which both public and private regulation are present. Which serves the consumers better and why?

3 Assuming you are the manager of a company, how could you use behavioral economics to increase the number of insured employees in your firm?

In: Economics

Why was Washington DC built how and when it was? Who really built Washington DC?

Why was Washington DC built how and when it was? Who really built Washington DC?

In: Economics

odigopoly likely to make a profit in the long run? Briefly explain why. (3 marks)

odigopoly likely to make a profit in the long run? Briefly explain why.

In: Economics

Polytec Chemical, Inc. must decide between two additives to improve the dry-weather stability of its low-cost...

Polytec Chemical, Inc. must decide between two additives to improve the dry-weather stability of its low-cost acrylic paint. Additive A will have an equipment and installation cost of $106,000 and an annual cost of $55,000. Additive B will have an installation cost of $175,000 and an annual cost of $28,000. If the company uses a five-year recovery period for paint products and an MARR of 21% per year, which process is favored on the basis of an incremental rate of return analysis? Also, determine the value of Δi*.

1) The value of Δi* is _____%

2) On the basis of an incremental rte of return analysis, process ___ is favored.

In: Economics

1.Describe how Native American women collaborated and worked with men to survive. How did women exert...

1.Describe how Native American women collaborated and worked with men to survive. How did women exert power and authority within their societies?

2. Explain the important role that Native American women held within spiritual/religious areas of life.

In: Economics

Health Economics: Please answer asap How do you construct a decision tree and what does it...

Health Economics: Please answer asap

How do you construct a decision tree and what does it mean to have an expected value and standard deviation?

•                     Describe the risk preferences

•                     What is scenario analysis and sensitivity analysis?

•                     List and explain the approaches to managing risk

•                     What is the difference among these concepts from a health economics perspective: HMO, POS, PPO, indemnity, risk pool, HSA, IPA, …

•                     What are the payment systems?

In: Economics

Applied Economics - The Institutional Framework Who the Looting Ruins ‘Seventeen years of work is gone,’...

Applied Economics - The Institutional Framework

Who the Looting Ruins

‘Seventeen years of work is gone,’ said the owner of an Ecuadorean eatery.

By

The Editorial Board

June 4, 2020 7:37 pm ET

Luis Tamay is an immigrant with an Ecuadorean restaurant in Minneapolis. Zola Dias is the black owner of a clothing store in Atlanta. Sam Mabrouk has a denim shop in Columbus, Ohio. They’re only a few of the people whom intellectuals overlook whenever they rationalize rioting or say that property destruction isn’t violence.

“Seventeen years of work is gone,” Mr. Tamay told the Minneapolis Star Tribune after his restaurant, El Sabor Chuchi, burned to the ground. When the rioting began, he stood watch. But last Friday he obeyed curfew, believing that the National Guard would control the streets. Then on Facebook he saw video of his restaurant on fire. He told the newspaper he didn’t have insurance because it was too expensive.

Safia Munye, a Somali immigrant in Minneapolis, opened Mama Safia’s Kitchen in 2018 with money saved for retirement. When the pandemic arrived, NPRreported, she couldn’t afford both insurance and to pay her workers. She did the latter. Now the restaurant is wrecked, but she’s hardly the intended target of George Floyd protesters. “My heart is broken. My mind is broken,” she said. “I know I can’t come back from this. But this can be replaced. George’s life cannot. George’s life was more important.”

In Atlanta, Zola Dias lost more than $100,000 in goods from his clothing store, Attom. “I’m very emotional when I talk about it because I put my soul and life in this business,” he told the Atlanta Business Chronicle. “I just want to tell people to go and vote. That’s the only way to stop it and make a change.”

In San Francisco, Grace Jewelers was ransacked. “I can’t put a dollar estimate on it now,” Paul Zhou, the owner’s husband, told the Chronicle. “My wife is devastated.” In Dallas, Rodolfo Bianchi’s empanada shop was trashed. “It was emotionally heartbreaking to see all of your sweat, blood and tears just shattered,” he said. “It wasn’t anger, I was just broken.”

King’s Fashion in Philadelphia is a burned-out mess. “I don’t know what to do right now,” Helen Woo, a co-owner, told the Journal. “I built it up,” said her husband, Sung. “And it’s gone. My life is gone.” Masum Siddiquee lost about $200,000 of merchandise from his Philly store, MN Fashion and Jewelry. “I have no money right now,” he said.

“I lost everything in one night,” said Sam Mabrouk, counting an estimated $70,000 in product stolen from his clothing shop in Columbus, Ohio. “That was my savings from 11 years of working. That’s what hurts more than anything.” In Milwaukee, Katherine Mahmoud’s cellphone store was looted empty, which she said had nothing to do with what the Floyd protesters are fighting for. “I look just like them,” she told the Milwaukee Journal Sentinel. “Why?”

Some of these businesses are raising funds to help put the pieces back together. Some might have insurance to cover at least a portion of the losses. But others might not survive, and many companies will go bust quietly, without making the newspapers. Contrast this heartache with the cavalier attitude shown by at least some intellectuals, who seem to think that firebombing a local South American restaurant is merely the persuasive language of the unheard.


OPINION
COMMENTARY
Don’t Call Rioters ‘Protesters’

As in the 1960s, rioters aren’t looking to make a political point. They’re in it for the ‘fun and profit.’

By Barry Latzer

June 4, 2020 1:55 pm ET


Though thousands of demonstrators have taken to the streets of cities across the nation to express their outrage over the death of George Floyd, many hundreds have engaged in mob violence and looting. Mr. Floyd’s tragic death is, for them, a pretext for hooliganism.

We’ve seen this before, back in the bad old days of the late 1960s, when rioting became a near-everyday occurrence. Economists William J. Collins and Robert A. Margotallied an extraordinary 752 riots between 1964 and 1971. These disturbances involved 15,835 incidents of arson and caused 228 deaths, 12,741 injuries and 69,099 arrests. By an objective measure of severity, 130 of the 752 riots were considered “major,” 37 were labeled “massive” in their destructiveness.

At the time, black radicals and some white leftists saw the riots purely as political protest. Tom Hayden, the well-known New Left leader, described the violence as “a new stage in the development of Negro protest against racism, and as a logical outgrowth of the failure of the whole society to support racial equality.”

This analysis ignored the observations of witnesses on the scene. Thousands of rioters in the 1960s and early 1970s engaged in a joyful hooliganism—looting and destroying of property with wild abandon—that had no apparent political meaning. In the Detroit riot of July 1967, one of the era’s most lethal (43 people died in four nightmarish days of turmoil), the early stage of the riot was described by historian Sidney Fine as “a carnival atmosphere,” in which, as reported by a black minister eyewitness, participants exhibited “a gleefulness in throwing stuff and getting stuff out of the buildings.” A young black rioter told a newspaper reporter that he “really enjoyed” himself.

Analysts of urban rioting have identified a “Roman holiday” stage in which youths, in “a state of angry intoxication, taunt the police, burn stores with Molotov cocktails, and set the stage for looting.” This behavior is less political protest than, in Edward Banfield’s epigram of the day, “rioting mainly for fun and profit.” We are seeing some of the same looting and burning today, often treated by the media as mere exuberant protest.

Analyses of the riots that pinned blame on white bias and black victimization buttressed the protest theory. Such explanations received official sanction in the report of the influential National Advisory Commission on Civil Disorders established by President Lyndon Johnson in 1967, and headed by Illinois Gov. Otto Kerner. The Kerner Report famously declared that “white racism is essentially responsible for the explosive mixture which has been accumulating in our cities since the end of World War II.” While not explicitly calling the riots a justified revolt by the victims of white racism, the Kerner Report certainly gave that impression.

Today we have the Black Lives Matter movement, which claims that police racism is the heart of the problem and calls for “defunding” police departments. Its apologists ignore the pressing need to protect black lives in communities where armed violent criminals daily threaten law-abiding residents.

A seeming oddity of the disturbances of the late ’60s and early ’70s is that they failed to materialize in many cities. An analysis of 673 municipalities with populations over 25,000 found that 75% of them experienced no riots. Even within riot-torn cities it is estimated that 85% or more of the black population took no part in them. Although they’ve gotten little or no media coverage I expect we will see comparable enclaves of tranquility today.

One possible explanation for why some cities explode with violence and others don’t is contagion theory: the tendency of people to do what their friends are doing. Once the rocks and bottles start flying in a neighborhood, it becomes tempting to join in. Youths, who played a major role in the turbulence, are particularly susceptible to peer influence. Consequently, when teenagers and young men begin rampaging, the situation often quickly escalates. No one wants to miss the party. As more young people join in, what begins as a manageable event can rapidly spiral out of control.

Closely related to the contagion theory is the threshold—or, more popularly, the “tipping point”—hypothesis. Once a certain number of rioters have become engaged, this view holds, those who had preferred to stay on the sidelines will be motivated to jump in. While imitation plays its part here too, the size of the event in itself becomes the crucial determinant of the ultimate magnitude of the riot.

Of course, a peaceful situation can quickly descend into mayhem in the presence of provocateurs. Back in the ’60s, a new generation of young black militants, such as Stokely Carmichael and H. Rap Brown, traveled around the country making incendiary speeches, unabashedly endorsing black revolution. Today we have antifa and various anarchist groups using social media and encrypted messages to organize the violence effectively but anonymously.

Certainly, there are those who honestly believe that America’s police are racist and in need of fundamental reforms. They are mistaken, but they should have ample opportunity to express their views peacefully. There should be no confusing such protesters, however, with looters, arsonists and those who would kill police officers. They deserve a different name: criminals.

Mr. Latzer is a professor emeritus at New York’s John Jay College of Criminal Justice and author of “The Rise and Fall of Violent Crime in America.”

Discuss the opportunity costs

In: Economics

An airline is considering two types of engine systems for use in its planes. Each has...

An airline is considering two types of engine systems for use in its planes. Each has the same life and the same maintenance and repair record. System A costs ​$90,000 and uses 40,000 gallons per​ 1,000 hours of operation at the average load encountered in passenger service. System B costs ​$220,000 and uses 25,000 gallons per​ 1,000 hours of operation at the same level. Both engine systems have​ three-year lives before any major overhaul is required. On the basis of the initial​ investment, the systems have 10​% salvage values. If jet fuel costs ​$2.24 a gallon​ (year 1) and fuel consumption is expected to increase at the rate of 5​% per year because of degrading engine​ efficiency, which engine system should the firm​ install? Assume 5,000 hours of operation per year and a MARR of 9​%. Use the AE criterion. What is the equivalent operating cost per hour for each​ engine? Assume an​ end-of-year convention for the fuel cost.

The equivalent annual costs for system A are:

The equivalent annual costs for system B are:

In: Economics

What is the dynamic “capital” view of social class compared to the status view?

What is the dynamic “capital” view of social class compared to the status view?

In: Economics

Banks are an important part of Australia’s financial system and their business includes taking deposits from...

Banks are an important part of Australia’s financial system and their business includes taking deposits from the public and providing loans to households and businesses. What is a reserve ratio and explain how a fractional banking system operates? Following the 2008 global financial crisis (GFC), the real-world deposit multiplier tended to be way smaller than the simple multiplier. Explain why that was the case and how it would have affected the money supply in the economy.

In: Economics

1 .Recently, Shane started his graduate position in the Australian public sector and his starting annual...

1 .Recently, Shane started his graduate position in the Australian public sector and his starting annual salary is $60,000, while his dad’s starting salary for similar position 28 years ago was $20,000. Shane is seen bragging to his friends that he is earning three times more than his dad did 28 years ago. Is Shane’s claim valid? Explain your answer. 2.b. According to the Tasmanian Chamber of Commerce and Industry’s 2018 report, labour productivity in Tasmania is 22% below national average. What is ‘labour productivity’, and what measures could the Tasmanian government undertake to improve labour productivity? c. Following the COVID-19 pandemic, many developing countries are worried about rising inflation, despite slower economic growth. If demand for goods and services are expected to fall, what could be driving the inflation? Explain your answer.

In: Economics

Give some examples and explain how the C0VID-19 has affected already disadvantaged groups.

Give some examples and explain how the C0VID-19 has affected already disadvantaged groups.

In: Economics

The following demand (Q D) function has been estimated for Fantasy pinball machines:            Q D...

The following demand (Q D) function has been estimated for Fantasy pinball machines:
          
Q D = 3,500 − 40P + 17.5P x + 670U + .0090A + 6,500N
  
where P = monthly rental price of Fantasy pinball machines
            P x = monthly rental price of Old Chicago pinball machines (their largest competitor)
            U = current unemployment rate in the 10 largest metropolitan areas
            A = advertising expenditures for Fantasy pinball machines
            N = fraction of the U.S. population between ages 10 and 30
  
(a)        The point price elasticity of demand (E D) for Fantasy pinball machines when P = $150, P x = $100, U = .12, A = $200,000 and N = .35 is  . (round to the second digit after the decimal) {Hint: When you compute Q D using the provided information, round to the first digit after the decimal.}
(b)        The point cross elasticity of demand with respect to Old Chicago pinball machines for the values of the independent variables given in part (a) is  . (round to the second digit after the decimal)

In: Economics

Explain Transaction Exposure and why this may be a potential foreign exchange risk for an Australian...

Explain Transaction Exposure and why this may be a potential foreign exchange risk for an Australian business exporting internationally. Discuss how Leading and Lagging strategies could be appropriate for managing risk. Your answer should include three citations.

In: Economics

Suppose that the firms’ mark-up over costs is 5% and the wage-setting equation is W =...

  1. Suppose that the firms’ mark-up over costs is 5% and the wage-setting equation is W = P (1 − u) where u is the unemployment rate.

  2. (a) Suppose the mark-up of prices over costs increases to 10%. What happens to the natural rate of unemployment? Explain the logic behind the answer and the sense in which there is nothing “natural” about the natural rate of unemployment.

In: Economics

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