1. Suppose the objective of governement polict is to increase an economy’s growth and raise citizens’ standards of living. Explain in this context the roles of retirement, Social Security, and Medicare?2. Oregon proposed a solution to the health care costs problem that was widely criticized. Under this solution, the state paid only for common medical problems. Special and expensive problems would not be coverd. Using the market for medical care, analyze the oregon plan?3. Why does the health of the economy affect the number of people living in poverty?4. If one country is growing at a rate of 3 percent per year and another at a rate of 8 percent per year, how long will it take for each to double? What factors might account for the rate at which nations’ standards of living grow?5. Why must voluntary trade between two countries be mutually beneficial?6. How would each of the following theories of comparative advantage explain the fact that the United State export computers?A. Productvity differencesB. Factor abundanceC. Human SkillsD. Product life CylceE. Preferences7. If two countries reach equilibrium in their domestic markets at the same price, what can be said about their export supply and import demand curves and about the international trade equilibrium?