who don\'t.\" Since reading this news, I have made a point of kissing my wife be
ID: 2620277 • Letter: W
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who don't." Since reading this news, I have made a point of kissing my wife before work every morning in order to (1) prolong my life, (2) avoid car accidents, and (3) raise my income. Briefly explain (for one of these goals) why my logic is likely mistaken. (10 points) Part IV Long Discussion Questions (with the theory and practice in your country to answer the questions below) (30 points) 1. In the last few days, the news media has been full of stories about this year's flu season and the shortage of flu vaccine. But suppose this were a normal year and there were more than enough doses of vaccine to give to everyone who wanted one. (20 points) (a) Suppose there were no medical insurance, and suppose that flu vaccine is produced by a competitive producers, so the cost of getting vaccinated is equal to the marginal cost of producing one more dose of vaccine (say, S10) Assume there are some people who are allergic to the vaccine and therefore cannot be vaccinated What feature of this particular market would lead you to expect that the outcome produced by the free market will not be socially efficient? (Hint: The answer I am looking for is related to the fact that if catch the flu, I might give it to someone else). What kind of public policy response does stendard economic theory suggest to this kind of problem? Can this logic explain why some private institutions give free flu shots to their employees?( (10 points) (b) Children who have the flu are more infectious than prime-age adults. Elderly people can die of the flu. Suppose there is a shortage of flu vaccine and it must be rationed Uise the logic and terminology of public finance theory to explain the logic of why children and the elderly should be vaccinated before prime-age adults. (You must use terminology in your answer). (10 points) proper public finance 2. Some economists argue that the Social Security system distorts people's behavior and impairs economic efficiency Do you agree with this opinion (10 points)Explanation / Answer
Answer 1) Kissing of wife before work every morning cann't increase the income , so this logic is totally mistaken in the person . The income or level of income don't have any relation or corelation with kissing of wife ( happy life ) . Here , Income is totally a indepenent variable , which doesn't impact on the factor at all. Kissing is a form of physical and phychological exercise , which helps burns calories, reduce blood pressure, alleviates allergies and good for lungs. Such physical benefits may reduce the medical expanses , which reduce the expanses and supports in saving ,but there cann't be any direct impact on income.
Answer 1-A) In case of flu vacination market and economy study , the purpose of manufacturer and government is not to earn direct profit from the selling in market .The profit is earned from different manner , as vacination stop flu which spread very fast in community leads to mass absentism in offices and factories ,such mass absentism not only lead to money loss but loss in production and serivices. The amount of loss can be stoped by use of flu vacinations. So, many private companies and institutions supply free vacine to their employees.
Answer 1-B) Children and the old persons should vacinated befor the adults , as they are more pron towards such infection . Infection in children and old persons will leads to more other infection and will further spread to adult one as well. Such infection will attract huge expanses ,which impact the net saving . That 's why it is advisible to vacinate them first before adult as per public finance theory.
Answer 2) The concept of social security provide economic and financial indipendence to the citizen of the country in some or full extenct . But the implimntation of such security do have some negative impact on the society mainly on the saving and financial behaviour . A very popular article from Feldstein (2005), argues that social security in the USA reduces total savings. I do support such arguement for giving social security . After making contribution in social security , the contributors don't want to invest in other long term of retirement assets . As they feel fully secured in case of any mishappening to them . Such comfort and ignorancec creates a distorted behaviour and reduce the economy efficiency.
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