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Economics & Public Policies
Finance & Accounting
Pages 8 (2008 words)
Essay – Economics & Public Policies Table of Contents Answer 1: Production Possibility Curve 3 Answer 2: Lindahl Equilibrium 4 Answer 3: Pollution Abatement 5 Answer 4: Break-Even Analysis 6 Answer 5: Cost-Benefit Analysis of New Road 7 Answer 6: Dependency Ratio 8 Answer 7: Effective MTR 9 Comparative Analysis of U.S.-Canada Social Security System 9 Introduction- U.S.
There are 3 basic assumptions underlying the production possibilities curve: 1. Quantity and quality of all resources as inputs fixed 2. Unchanged technology 3. Fully employed resources If the federal state and local governments in the U.S. engage in increased health-related expenditure, they would require increasing taxes to meet the increased costs. Assuming the fixed quantity of resources, i.e. public taxes and technology over a given time period, the U.S. is capable of providing limited amount of public health care services. This also depends upon how much the taxpayers are willing to sacrifice other goods and services for increased public health service. The production possibilities curve shows that increase in health care services will lead to less of other government public services due to its limited resources. Therefore, the production of other goods and services will be less. As the quantity of health care services is reduced, the government will be able to provide more of other goods and services. The probable production possibilities curve is provided in figure 1. ...
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