Video version of a podcast by Planet Money - "Why K-Pop Is Taking Over The World"
A little late to help anyone reading this post for class, but Rick Perry is pushing for colleges to provide a new option to keep the cost of college from rising. As the article mentions, there are plenty of pitfalls to consider (larger class sizes, etc...), but the article doesn't really consider why this will happen.
Consider this scenario: A maximum price is set on college education at $10,000. What would we call this type of government intervention? Will there be a surplus or shortage of college classes if this is implemented? What effects could this have on existing student populations and neighboring communities? If there is an increase in the amount of people with degrees, what do you think will happen in the labor market to the wage (salary) paid to both degree and non-degree holding workers
Here are some highlights from Wednesday's debate on the future of healthcare.
Naturally, these are light on specifics and are heavy on politics so let's consider some possibilities. Specifically, what do you think will happen to the equilibrium cost of healthcare if government is allowed to provide insurance? Using supply and demand, show what will happen and explain why it happened. What do you suppose the price-elasticity of demand is for healthcare? What about the price-elasticity of supply? Is this evidence for or against the government provision of healthcare?
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