The U.S. spends more on its healthcare system than any other country in the world but significantly less on social programs that improve health in lower income populations. Data show social determinants of health (clean water, safe communities, healthy food) contribute to better health and lower costs for health care. Our system is widely regarded as an exceptional sick care system where the latest technologies and approaches are used by hospitals and physicians to treat the sick and injured.

1. In your first post:
   • Describe one foreign healthcare system. How is it financed? Describe insurance coverage. Compare the outcomes of care, costs and other related statistics to the United States.
   • Do you think one is better than the other? What are some ways the United States should improve or reform the healthcare system?
   • What role do you think the federal government has in providing Americans with health care?

Which of the following are problems of a piece rate system?
I.    The piece rate system might attract the least productive workers.
II.   Workers might be concerned more about quantity than quality.
III. Inevitably, piece rate systems cause wages to rise more than productivity.

If real GDP per capita in the United States is currently $50,000 and grows at 2.5 percent per year, how many years will it take to reach $200,000?

If the United States is slightly to the left of its steady-state level of capital stock, an increase in capital production is expected to lead to a higher level of real GDP than the increase in the level of real GDP gained from an improvement in technology.

True

False

A survey of CPAs across the United States found the average net income for sole proprietor CPAs is $114,300. Because this survey is now more than 5 years old, an accounting researcher wants to test this figure by taking a random sample of 36 sole proprietor accountants in the United States to determine whether the average net income has increased. Only 500 sole proprietorships practice in the US. The sample of 36 sole proprietor accountants had a mean of $119,000 with a standard deviation of $12,000. Construct a 99% confidence interval for the population mean net income for sole proprietor CPAs. Show your work! Formula(s), substitutions, answers! Please round your z or t value to 3 decimal places, and your final answers to whole numbers. Does your confidence interval provide evidence that the average net income of sole proprietor CPAS has increased? Yes No Defend your answer.

“In 2014, “the United States exported $2.34 trillion worth of goods and services—an all-time record. Exports from the United States in 2014 equaled the entire gross domestic product of Brazil and exceeded all commercial output in India, Italy, or Mexico. What is more, exports are an increasingly important aspect of the U.S. economy.” (New top markets series provides data, 2015)

In your thread, complete the following:

Discuss economic theory related to the quote above. Be sure to include a definition of exports and the way in which exports are counted in the measurement of Gross Domestic Product (GDP) within your discussion.

Locate and incorporate outside research that gives evidence and explanation as to the possible causes of this growth in exports. Provide an example of 1 particular industry or country with which export quantity has increased.

Integrate biblical insights into your thread. In what way does Scripture influence our attitudes and actions in international trade? 300 word min

Financial statements prepared under accounting practices in other countries often differ from those prepared under generated accepted accounting principles (GAAP) in the United States. For example, BMW Group prepares its financial statements under International Financial Reporting Standards (IFRS) as adopted by the European Union. In doing so, BMW's balance sheet reports fixed assets first, followed by current assets. It also reports stockholders' equity before the liabilities. In contrast, balance sheets prepared under U.S. accounting principles report current assets followed by fixed assets and current liabilities followed by long-term liabilities and stockholders' equity. The United States is BMW's second biggest market (right behind China).

1. Do you think the BMW Group should prepare financial statements in accordance to GAAP (US-based) or International Financial Reporting Standards?

2. Why?

International Financial Reporting Standards are gaining support around the globe. In 2007, the SEC eliminated the requirement for foreign companies that issue stock in the United States to include in their financial statements a reconciliation of IFRS to U.S. GAAP. There also is a serious discussion of allowing U.S. companies to choose whether to prepare their financial statements according to U.S. GAAP or IFRS.

Many outside of the United States claim that a problem with U.S. GAAP is that there are too many rules. They argue for principles-based accounting standards in which the broad principles of accounting are emphasized and less emphasis is placed on detailed implementation rules. Americans counter that IFRS may lack quality and rigor. Additional rules are necessary to provide adequate guidance to users.

Requirements:

@Describe the two major reporting standards in the world.

@Research and name which countries use GAAP vs. IFRS.

@Explain the difference between principles and rules-based accounting standards.

@Explain the advantages of each approach.

1) Suppose the domestic supply (QS U.S.) and demand (QDU.S) for bicycles in the United States is represented by the following set of equations:

QS U.S. = 2P

QDU.S. = 200 – 2P.

Demand (QD) and supply (QS) in the rest of the world is represented by the equations:

QS = P

QD =160 – P. Quantities are measured in thousands and price, in U.S. dollars. After the opening of free trade with the United States, if the world price of the bicycles settles at $60, answer the following questions:

a. What are the equilibrium price and quantity for US and ROW if there is no international trade? Draw the demand and supply curves on the graph, and label these points.

b. What are the quantities of the import and export if they can trade freely with the price of $60?

c. What is the effect of the shift from no trade to free trade on US consumer surplus? On producer surplus? What is the net national gain or loss for US?

d. Calculate the net benefit for US and ROW after trade to support your answers.

A survey was conducted to measure the number of hours per week adults in the United States spend on home computers. In the survey, the number of hours was normally distributed, with a mean of 7 hours and a standard deviation of 1 hour. A survey participant is randomly selected. Which of the following statements is true?

(a) The probability that the hours spent on the home computer by the participant are less than 4.5 hours per week is 0.9938.

(b) The probability that the hours spent on the home computer by the participant are between 4.5 and 9.5 hours per week is 0.0124.

(c) The probability that the hours spent on the home computer by the participant are more than 9.5 hours per week is 0.9938.

(d) 0.13% of the adults spend more than 4 hours per week on a home computer.

(e) If 43 adults in the United States are randomly selected, you would expect to say about 1 adult spend less than 5 hours per week on a home computer.

The Greek shipping company Ionia Management managed a 600-foot oil tanker that delivered oil to ports along the eastern seaboard of the United States. During these deliveries, Ionia's engine room crew, at the direction of their ship supervisors, regularly dumped oily waste into the ocean. To conceal the wrongdoing, the ship's crew falsified entries in its oil record book and lied to Coast Guard officials regarding the waste. The top executives and officials at Ionia did not know that employees were violating company policy and falsifying ship records to cover up their wrongdoing. A jury convicted Ionia of conspiracy, pollution, and obstruction of justice, and the company was fined $4.9 million in addition to probation and assessments. The corporation appealed. Should the corporation be found criminally liable for the illegal actions of its lower-level employees under the doctrine of respondeat superior? Why or why not? [United States v. Ionia Mgmt, 555 F.3d 303 (2009).]

A survey was conducted to measure the number of hours per week adults in the United States spend on home computers. In the survey, the number of hours was normally distributed, with a mean of 7 hours and a standard deviation of 1 hour. A survey participant is randomly selected. Which of the following statements is true?

(a) The probability that the hours spent on the home computer by the participant are less than 4.5 hours per week is 0.9938.

(b) The probability that the hours spent on the home computer by the participant are between 4.5 and 9.5 hours per week is 0.0124.

(c) The probability that the hours spent on the home computer by the participant are more than 9.5 hours per week is 0.9938.

(d) 0.13% of the adults spend more than 4 hours per week on a home computer. (e) If 43 adults in the United States are randomly selected, you would expect to say about 1 adult spend less than 5 hours per week on a home computer.