Assume the demand being perfectly inelastic, and supply suddenly doubles due to innovative technique of production.
September 3, 2020
Assume you are tasked with forecasting the macroeconomy (quarterly forecast for the next four quarters, updated monthly) for a policy entity or…
September 3, 2020

The elderly are now the richest component of the population; less than 10 percent of the elderly live in poverty, and there are many tax breaks available only or mainly for them (for example, Social Security benefits are not fully taxed). Given this, what would the basic utilitarian theory of income distribution say about the generational accounting effects of the new Medicare bill are socially desirable?

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