Use the ad/as model to diagram the following events (a, b, & c), showing what will happen in the short run and in the long run. unless otherwise instructed, assume that each economy starts from full employment. also, state clearly what will happen to output and the price level in the short-run and in the long run.

a. new laws prohibit a large segment of the labor force from working.
b. technological advances allow one worker to do the work of ten.
c. we know that when an economy starts out at long-run equilibrium and the government cuts taxes, this will only result in inflation in the long run. what happens if the economy is producing a level of output below the full-employment (long-run equilibrium) level and the government cuts taxes?
d. starting from full employment, what will happen to an economy if the government increases both taxes paid by households and spending by the same large amount (according to as/ad analysis)? does this outcome seem realistic in a market economy?

Consider how health insurance affects the quantity of health care services performed. suppose that the typical medical procedure has a cost of $160, yet a person with health insurance pays only $40 out of pocket. her insurance company pays the remaining $120. (the insurance company recoups the $120 through premiums, but the premium a person pays does not depend on how many procedures that person chooses to undergo.) consider the following demand curve in the market for medical care. use the black point (plus symbol) to indicate the quantity of procedures demanded if each procedure has a price of $160. then use the grey point (star symbol) to indicate the quantity of procedures demanded if each procedure has a price of $40. q d at p=$160 q d at p=$40 0 10 20 30 40 50 60 70 80 90 100 200 180 160 140 120 100 80 60 40 20 0 price of medical procedures quantity of medical procedures demand if the cost of each procedure to society is truly $160, the quantity that maximizes total surplus is procedures. economists often blame the health insurance system for excessive use of medical care. given your analysis, the use of care might be viewed as excessive because consumers get procedures whose value is than the cost of producing them.

Which analyst position analyzes information using mathematical models to business managers make decisions? -budget analyst -management analyst -credit analyst -operations research analyst

Statistical process control charts: a. indicate to the operator the true quality of material leaving the process. b. display upper and lower limits for process variables or attributes and signal when a process is no longer in control. c. indicate to the process operator the average outgoing quality of each lot. d. display the measurements on every item being produced. e. are a graphic way of classifying problems by their level of importance, often referred to as the 80-20 rule.