Miss Natalia

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About Miss Natalia

Levels Tought:
Elementary,High School,College,University

Expertise:
Accounting,Business & Finance See all
Accounting,Business & Finance,Calculus,Computer Science,Environmental science,Health & Medical Hide all
Teaching Since: Apr 2017
Last Sign in: 267 Weeks Ago
Questions Answered: 6064
Tutorials Posted: 6070

Education

  • Doctor of Education in Educational Leadership with a Specialization in Educational Technology
    Phoniex University
    Oct-1999 - Nov-2005

Experience

  • HR Executive
    a21, Inc.
    Nov-1998 - Dec-2005

Category > Economics Posted 06 May 2017 My Price 10.00

What is the difference between a change in demand and a change in quantity demanded?

1.    What is the difference between a change in demand and a change in quantity demanded? Supply and quantity supplied? Give an example of what could cause a change in each?

2.     Explain how a freely operating market could eliminate shortages and surpluses.(Go through the steps in the process). What role do prices play in this process?

3.     What is the U.S. GDP for the 1st quarter of 2017? What some of the reasons economists have given for the rather dismal growth rate? How has our GDP done over the past 10 years? List out each year’s GDP. How has China done over the same period? India?

4.     On April 1, 2009, in the middle of a recession, the government of the province of Ontario, Canada increased the provincial minimum wage from $8.75 to $9.50. What will the likely effect of this policy be?

5.     When comparing the GDP of different countries, two issues immediately arise. What are these issues and how does one account for these while comparing the GDP for different countries?

6.     Say that the average worker in Canada has productivity of $33 per hour while the average worker in the United Kingdom has productivity of $29 per hour (both measured in U.S. dollars). Over the next six years, say that worker productivity in Canada grows at 1% per year while worker productivity in the UK grows 3% per year. At that point, who will have the higher productivity level, and by how much?

7.     Explain the concepts of opportunity costs and sunk costs. Give two examples for each concept.

8.     Why is the production possibility curve bowed outward? What are the implications of this shape for society’s choices? What the implications for this concept in your personal life? Explain.

9.     Draw a supply and demand graph which describes healthcare in a society where all healthcare is provided by the market. Indicate where the uninsured might fall on the graph. Explain the consequences of the graph.

10.   Now draw on the same graph, the supply and demand for healthcare in countries such as Japan, Great Britain, Taiwan, Germany, and Switzerland (select one). How are the outcomes (price and quantity) different than in pure society dominated by a pure market? How is the graph changed to increase the amount of people covered by insurance?

Answers

Miss Natalia
(14)
Status NEW Posted 06 May 2017 02:05 PM My Price 10.00

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