Q1. The Wall Street Journal once stated regarding Fannie Mae and Freddie Mac that: "Their profit is privatized but their risk is socialized." Identify is it true or not? Explain how these governments did sponsored enterprises play a part in the crisis?
Q2. Defensive medical practice is considered as one of the keys driving up the medical care costs. Which model, the supplier-induced demand (SID) or the McGuire quantity-setting model, is better to elucidate the defensive medicine? Elucidate your answer briefly
Q3. Explain how is world currency valued against the US dollar such as Euro and Chinese?