1. A country’s production function depends on labor (L) and capital (K) and shows constant returns to scale. When L = 140 and K = 150, output is 330. Based on this information, what is a possible value for output when L = 70 and K = 50? Briefly explain your reasoning.

2. In 1960, CPI in the United States was 29.6.  In 2017, CPI in the United States was 245.1.  If a pair of pants cost $35 in 2017, how much did they cost in 1960 if the price is the same, relative to cost of living, in both years?

Most health insurance in the United States is provided through employer work groups.

1) Describe what feature of government policy makes this particularly desirable for workers and firms in the United States. Indicate briefly how this particular government policy affects decisions about the amount of health insurance people acquire through this method.

2) Aside from the government policy in part 1), what other feature about employment groups makes them valuable as a way to make the insurance market function well?

Answer the following questions regarding PPP and the IFE. Assume that the nominal interest rate in Mexico is 48% and the interest rate in the United States is 8% for 1-year securities that are free from default risk. a. What does the IFE suggest about the differential in expected inflation in these two countries? (10 points) b. Using this information and the PPP theory, what is the expected nominal return to U.S. investors who invest in Mexico? Assume that the real interest rates in Mexico and the United States are 10% and 3%, respectively

According to the Humane Society of the United States, there are approximately 77.5 million owned dogs in the United States, and approximately 40% of all U.S. households own at least one dog.† Suppose that the 40% figure is correct and that 20 households are randomly selected for a pet ownership survey.

(a)

What is the probability that exactly six of the households have at least one dog? (Round your answer to three decimal places.)

(b)

What is the probability that at most five of the households have at least one dog? (Round your answer to three decimal places.)

Trade tariffs being levied by the United States against China & vice versa occupy a great deal of the news presently. With your knowledge of economics, you are able to analyze the direct and indirect impacts of tariffs on U.S. commercial enterprises.

Take a position on the tariffs. Choose whether you are in favor of or opposed to the tariffs imposed by the trump administration on Chinese products sold in the United States. Supporting your position by using economic reasoning and where evidence. Speak on any efficiency cost and equity effects that results from the tariffs.

1.A stockpile of approximately 50 metric tons of plutonium exists in the United States as a result of disassembling warheads from the nuclear arms race. What is the likely fate of this plutonium? (Hint: Search for plutonium disposal. Try also including United States and DOE in your search string.)

a. Some propose that the plutonium be sent to local nuclear power plants to “burn” as fissionable fuel. What are the advantages and disadvantages of such a course of action?

b. Others propose that it be stored permanently in a repository. Again, list the advantages and disadvantages.

You will explore obesity around the world. You will research information on obesity in the United States and two other countries, each from different continents.

1. Discuss obesity in the United States and the two countries you selected.
2. What comparisons can be made?
3. What are the cultural differences in these countries that contribute to obesity?
4. What are some of the contributing factors to worldwide obesity rates?
5. What are some social determinants that may contribute to obesity rates?
6. What are shared causal or associative factors that contribute to the global spread of this condition?

Suppose an extraterrestrial anthropologist asks you what type of health system you would build in the United States, if you could start from scratch. You need to 1) describe the health care system and how it would be financed. 2) describe where care would be received and how care would be rationed. 3) discuss production efficiency, efficiency in consumption, and equitable redistribution. How and why is your proposed system better than the current health care system in the United States?

Compare and contrast the two different methods of rationing healthcare (Single-payer versus Private Health Care). Explain the pros and cons of each system. Explain which system you think would be better and more efficient in producing healthcare in the United States and why. Also, discuss whether you think the United States should move to a single-payer healthcare system, including why this would or would not be beneficial to the citizens of this country. You may also want to do some outside research here.