Assignment:
1. 2,000 years ago gladiators fought in the Coliseums of Ancient Rome making huge salaries. Is this an example of a "Winner - Take" all society? Explain how this is still a big part of today's US or any other typical Western Society. What about a NFL Football Players wages too?
2 .Why do more than 45 million Americans not have Health Insurance? Argue whether or not you feel that Health Insurance today should be either Public or Insurance driven?
Why is the supply curve of labor for any specific occupation likely to be upward-sloping, even if, for the economy as a whole, people work fewer hours when wage rate increase?
True of False: If the human capital possessed by two workers is nearly the same, their wage rates will be nearly the same. Explain.
How might recent changes in income inequality be related to the proliferation of technological that enable the most productive individuals to serve broader markets?
Mention two self-interested reasons that a top earner might favor policies to redistribute income.
Why is exclusive reliance on the negative income tax unlikely to constitute a long term solution to the poverty problem?
• After discussing Elasticity of Demand in Chapter explain whether or not the Demand for Health Insurance in the US has an inelastic or elastic demand and why?
• Why is vaccination against many childhood illnesses a legal requirement for entry into public school?
• Why do economists believe that pollution taxes and effluent permits are a more efficient way to curb pollution than laws mandating across-the-board cutbacks?
• Why is first-dollar health care coverage inefficient?
• How would you explain to a skeptical bank manager why the socially optimal number of bank robberies is not zero?
• Does it make sense for the Federal Aviation Administration to require more sophistication and expansive safety equipment in large commercial passenger jets than in small private planes?