This topic contains a solution. Click here to go to the answer

Author Question: What is the big tradeoff? What will be an ideal response?[br][br][b][color=red]Question ... (Read 33 times)

littleanan

  • Hero Member
  • *****
  • Posts: 575
What is the big tradeoff?
 
  What will be an ideal response?

Question 2

The median wage among physicians is over 166K a year, while the median salary for physician assistants is 86K a year.
 
  These salaries suggest that physicians have ________ human capital than physician assistants and hence the demand for labor for physicians is ________ than the demand for labor for physician assistants. A) more; less
  B) more; greater
  C) less; greater
  D) less; less



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

upturnedfurball

  • Sr. Member
  • ****
  • Posts: 334
Answer to Question 1

The big tradeoff is the tradeoff between efficiency and fairness. The idea is that if the government redistributes income so that it is more equally shared, output decreases so that it is less than the efficient amount. Output shrinks because such redistribution blunts people's incentives to work. Hence redistributing income so that everyone has the same amount of income might end up insuring that everyone's incomes are smaller than if less redistribution is pursued.

Answer to Question 2

B




littleanan

  • Member
  • Posts: 575
Reply 2 on: Jun 29, 2018
Excellent


zacnyjessica

  • Member
  • Posts: 345
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

For a complete list of videos, visit our video library