Consider replacing the current us economic system with a, Ask an Expert

Economics

Consider replacing the current U.S. economic system with a system where everyone is paid exactly the same salary. Assume that each family would receive an equal share of GDP. For a typical four-person household, this would be over $90,000.

i. Would you personally favor this system? Explain.

ii. What problems would exist?

iii. What mechanisms could be enacted to overcome these problems?

iv. Who would benefit from this system?

v. What jobs would be hard to fill?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M92001218

Have any Question?Write your Review or question?

Related Questions in Business Economics

Brexita what are the economic implications provide a

"Brexit" A. What are the economic implications? Provide a credible citation. B. What possible impact could this event have on European trade? Provide a credible citation.

A recent study revealed that 60 of employees use their

A recent study revealed that 60% of employees use their smart phone during work hours for non-work related purposes. Suppose you randomly observe 100 employees and record whether the employee is using their phone for non ...

Suppose there is no inflation and an insurance company

Suppose there is no inflation and an insurance company offers a contract that would pay $500,000 with certainty 50 years from now. What is the most that this contract would be worth today if: 1. The rate of interest is 7 ...

1 explain why fukayama thinks we are at the end of history

1. Explain why Fukayama thinks we are at the "end of history". How do you respond to his contention? 2. Explain what information a Lorenz curve gives you. How is this information summarized by a Gini coefficient. 3. Expl ...

Suppose a bond with no expiration date has a face value of

Suppose a bond with no expiration date has a face value of $10,000 and annually pays a fixed amount of interest of $900. a. In the table provided below, calculate and enter either the interest rate that the bond would yi ...

The demand fornbspbedspreadsisnbsppnbspnbsp150-4qdthe

The demand for bedspreadsis P ? = 150-4 QD . The supply of bedspreads is P ? = 125+5 QS . What is the equilibrium price of a bedspread and what is the equilibrium quantity of bedspreads?? The equilibrium price is ?$()a ...

A survey of 455 citizens found 304 of them favor a new bill

A survey of 455 citizens found 304 of them favor a new bill introduced to the city. We want to find a 95% confidence interval for the true proportion of the population who will favor the bill. What is the lower limit of ...

Multicar accident often result in fatalities across the

Multicar accident often result in fatalities across the nation, records are kept of the total number of accident involving 10 or more vehicles. Over the past 25 years, the average number of accidents involving 10 or more ...

Why does a government undertakes expansionary fiscal

Why does a government undertakes expansionary fiscal policy? What are the problems of undertaking expansionary fiscal policy? When is fiscal policy more appropriate than monetary policy?

Programming assignment 1 a prime number is a positive

Programming Assignment 1: A prime number is a positive integer evenly divisible by exactly two positive integers: itself and 1. The first five prime numbers are 2, 3, 5, 7, and 11. Sometimes two consecutive odd numbers a ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert