Q: The Affordable Care Act signed into law by President Obama in 2010
The Affordable Care Act signed into law by President Obama in 2010 included the following two provisions: i. Insurance companies must offer health insurance to everyone who applies and charge them the...
See AnswerQ: Are the following statements true or false? Explain in each case
Are the following statements true or false? Explain in each case. a. “Two countries can achieve gains from trade even if one of the countries has an absolute advantage in the production of all goods.”...
See AnswerQ: Three friends are choosing a TV show to watch. Here are
Three friends are choosing a TV show to watch. Here are their preferences: a. If the three friends try using a Borda count to make their choice, what would happen? b. Monica suggests a vote by majorit...
See AnswerQ: Below are some data from the land of milk and honey.
Below are some data from the land of milk and honey. a. Compute nominal GDP, real GDP, and the GDP deflator for each year, using 2020 as the base year. b. Compute the percentage change in nominal GDP,...
See AnswerQ: Consider the following data on the U.S. economy:
Consider the following data on the U.S. economy: a. What was the growth rate of nominal GDP between 1998 and 2018? b. What was the growth rate of the GDP deflator between 1998 and 2018? c. What was re...
See AnswerQ: The residents of Vegopia spend all of their income on cauliflower,
The residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2020, they spend a total of $200 for 100 heads of cauliflower, $75 for 50 bunches of broccoli, and $50 for...
See AnswerQ: Suppose that people consume only three goods, as shown in this
Suppose that people consume only three goods, as shown in this table: a. What is the percentage change in the price of each of the three goods? b. Using a method similar to the CPI, compute the percen...
See AnswerQ: A small nation idolizes the TV show The Voice. All they
A small nation idolizes the TV show The Voice. All they produce and consume are karaoke machines and CDs, in the following amounts: a. Using a method similar to the CPI, compute the percentage change...
See AnswerQ: A dozen eggs cost $0.88 in January 1980 and
A dozen eggs cost $0.88 in January 1980 and $1.77 in January 2018. The average hourly wage for production and nonsupervisory workers was $6.57 in January 1980 and $22.36 in January 2018. a. By what pe...
See AnswerQ: Explain the difference between saving and investment as defined by a macroeconomist
Explain the difference between saving and investment as defined by a macroeconomist. Which of the following situations represent investment and which represent saving? Explain. a. Your family takes ou...
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