When economists evaluate the fairness of financing health care, they assess potential payment methods such as income tax, deficit financing, sales tax, payroll tax, and user tax. If you could choose only one of these methods to finance the nation's health care, which would you choose and why? Which of these methods do you find to be the least fair? Why?

3. Which of the following is not correct about most economic models? They are composed of equations and diagrams. They contribute very little to economists' understanding of the real world c. They omit many features of the real-world economy d. In constructing models, economists make assumptions 4. In the circular-flow diagram, firms produce goods and services using factors of production output using inputs. c. factors of production using goods and services d. Both (a) and (b) are correct. 5. In economics, capital refers to the finances necessary for firms to produce their products b. buildings and machines used in the production process, c. the money households use to purchase firms' output. d. stocks and bonds.In an effort to reduce pollution, suppose that the Government passes a legislation requiring all polluters to reduce emissions by the same amount Explain why that solution is probably not efficient. Use appropriate diagrams to illustrate.2. Palm restaurants are considered the gold standard for steak houses, with over 25 global locations, most in the U.S. The menu is the same at all locations, but prices may differ. For example, in 2011, the price of a 9-ounce filet in one of the New York locations was $43, whereas in San Antonio, it was $41. You are an analyst that has been tasked with providing the fundamental economics underlying Palm's business. Note that this is an example of 3rd degree price discrimination, since the customers are identified by certain characteristics, namely, whether they are eating in New York or San Antonio