Approximately how much of aggregate national income in the United States is spent on health care today?

Explain how the equilibrium wage rate is determined for a perfectly competitive industry and how a firm in that industry determines its profit maximizing employment level

What will be an ideal response?

We may see government supply social work internally rather than through private firms because

a. it is a public good b. it is difficult to monitor the quantity and quality of social work provided c. private firms would seek to cover their costs d. a government bureau would maximize its budget e. there is a great demand for such services