Suppose the president is attempting to decide whether the federal government should spend more on research to find a cure for heart disease.What is the opportunity cost of spending more money to find a cure for heart disease?O A. The total explicit cost of the research to cure heart disease.OB. The reduction in funding for research to cure other diseases.O C. The monetary value of a human life.O D. The cost of the Medicare/Medicaid program.O E. The reduction in future health-related costs of heart disease.How should policymakers determine the amount of money that should be allocated for research curing heart disease? They should base their decision onO A. the number of people who have heart disease compared to the number of people who have other diseases.O B. whether the last dollar devoted to research on heart disease results in more benefit than the last dollar spent on research for curing other diseases.O C. the value of the total benefit of research on curing other diseases.D. the number of people who die from heart disease compared to the number of people who die from other diseases.O E. the value of the total benefit of the research on heart disease.

Note: Since the first question is done I am answering the second question. Answer (2): B (whether…

Answered: Suppose the president is attempting to…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which of the following graphs represents the macroeconomic effects of a decrease in spending on health and education?
2 Premium (thousands of dollars per year 6 $80 million. $160 billion. $80 billion. $160 million. 10 8 4 N HA 10 wom D = MB 30 40 50 20 Quantity (millions of families insured) Suppose that the marginal social benefit of insurance exceeds the willingness and ability to pay by a constant $2,000 per family per year. Suppose the marginal cost of health insurance is a constant $8,000 a year. If the government decides to provide public health insurance, how much will taxpayers have to pay?
1 According to Chapter 9 (Unemployment, Inflation & Business Cycles), a "negative GDP gap" describes an economy that is underperforming versus the full-employment potential. True or Fase True False If two million new babies were born in the U.S. and if two million more immigrants came to the U.S., then the Real GDP Per Copita will go down if we assume no change in the actual GDP number. True or False True False
Mo is smarter than Larry; that is, he has greater ability. How is Mo's demand for schooling related to Larry's demand for schooling? O Mo's schooling demand curve lies to the right of Larry's schooling demand curve. O They have the same schooling demand curve, but Mo chooses more schooling along that curve. O Mo's schooling demand curve lies to the left of Larry's schooling demand curve. Mo's schooling demand curve is Larry's schooling demand curve plus the ability bias. Christy will live and work forever, A graduate fellowship waives her tuition. Christy maximizes her wealth by going to graduate school for two years. When she leaves graduate school at s-18, her wage equals the present value of the annual wage gain over her whole career. O the interest rate. O schooling demand O the tuition that other students pay. If everyone is identical in terms of preferences, ability, and interest rates, then more-educated workers than less-educated workers. are no better off O work shorter…
Why is 'coordination failure' a problem in economics? Because different individuals have conflicting preferences which makes it hard to reach mutually beneficial outcomes. Because externalities can lead to under/over production relative to the social optimum. Because this leads to a breakdown of trust in the economy. Because government invention will be necessary to achieve full coordination. O Because a Pareto improvement could be made.
Which of the following are examples of Pareto-efficient changes? Explain your answers. The Hooterville Police Department implements cost-saving programs without having to sacrifice the quality of their services. O A. Not Pareto efficient, because service quality does not increase with the cost-saving programs. O B. Not Pareto efficient, because services provided by a government agency are public goods. OC. Pareto efficient, because services are provided at a lower cost regardless of the quality of the service. O D. Pareto efficient, because services are provided at a lower cost without making any members of society worse off.
E2
5. What is overconsumption? How does overconsumption mirror overpopulation?
Please help with economics!
Workers are compensated by firms with benefits in addition to wages and salaries. The most prominent offered by many firms is health insurance. Suppose that in 2000, workers at one steel plant were paid $30 per hour and in addition received health benefits at the rate of $6 per hour. Also suppose that by 2010 workers at that plant were paid $31.50 per hour but received $13.5 in heakth insurance benefits. a. By what precentage did total compensation (wages plus benefits ) change at this plant from 2000 to 2010? Total compensation increased or decreased by________ percent? What was the approximate average annual percentage change in total compensation? b. By what percetage did wages change at this plant from 2000 to 2010? Wages increased or decreased by ______percent? What was the approximate average annual percentage in wages? c. If workers value a dollar of heath benefits as much as they value a dollar of wages, by what total percentage will they feel their incomes have risen over…
In each of the following situations, illustrate what happens to the urban wage rate (W) and level of employment (L) and answer the question. A. True or False. A general increase in tax rates to business firms, spent on welfare programs, will slow down urban growth. B. True or False. A blanket regulation requiring firmst to cut pollution by 10% cet par assuming households' additional utility from better environmental quality is relatively low, will make it more likely that workers will accept lower wage.
Suppose that someone wants to present data on health expenditures by different levels of educational attainment and produces the following table: Table 1 Less than high school High school degree Some college Associate's degree Bachelor's degree Graduate degree All consumers Drugs 447 454 473 582 551 675 515 Health care 2217 O O Appropriate use of decimal places O Appropriate title O Appropriate use of color Appropriate use of lines 3119 3289 3630 4340 5067 3556 Health insurance 1318 1901 1823 2086 2503 2880 2061 Consider the table carefully. The items below represent a set of considerations for making good visualizations. Which one of these is clearly wrong? Appropriate font sizes Appropriate labels Appropriate use of font styles Appropriate use of bold/italics

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