uusinjsh Posted May 9, 2011 Report Share Posted May 9, 2011 So, I have this article about Australia and the cuts of medical research funding, how it will drive down the GDP by bigger amount than cuts due to multiplier. Teacher told me it's not bad, but should be, I quote "more serious evaluation and critical thinking". I am out of ideas! Currently presented ones are: * smaller efficiency - SRAS shift* people will get unemployed [source provided], leave to countries, where medical research is still seriously funded, more ppl will die = labor decreases, unemployment increases, LRAS shift to the left/PPC inwards* smaller tax receipts [from the point above]* more expensive treatment in future due to lack of innovation, so government will have to pay sooner or later, so will ppl* however, medical treatment has almost elastic PED, so bigger prices+small quantity change = bigger consumption* Australia will lose the money it could have got by selling patents of medicine, will have to buy medicine from abroad = net exports decrease* medical breakthroughs are not achieved in fortnight, but in very long period of time, so efforts of previous governments will be nullified as ongoing projects will be neglected. can't think of anything else now Reply Link to post Share on other sites More sharing options...
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