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…

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter22: Frontiers Of Microeconomics

Section: Chapter Questions

Problem 4PA

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Almost all states levy sales taxes on retail products, but about half of them exempt purchases of food. In addition, virtually all services are exempt from state sales taxes. a. The exemption of food from sales taxes is most likely explained by what? A. Attaining social objectives. B. The ability-to-pay principle. OC. The horizontal-equity principle. OD. The benefits-received principle. b. The exemption of services from sales taxes is most likely explained by what? A. The ability-to-pay principle B. Attaining social objectives such as avoiding tax evasion. OC. The benefits-received principle. D. The horizontal-equity principle. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
which of the following questions is not a microeconomic question? oa. why is wealth unequally distributed throughout the population? b. why is the price of computers falling? o c. why does the government spend more than it collects in taxes? d. what can we do to increase the number of people attending college?
John is thinking about going to the movies tonight . A ticket costs $ 9 and he will have to cancel his baby - sitting job that pays $ 20 . The total opportunity cost of seeing the movie is O A ) $9 O B ) $29 O C ) Indeterminate O D ) $ 29 minus the benefit of seeing the movie
a) Suppose that in the production of computer software, the marginal rate of technical substitution between engineers and marketer is 5 for IBM and 3 for Microsoft. Explain why this outcome violates the condition for efficiency in production and how a voluntary exchange could make both companies better off. b) Ignoring rationing problems and black markets, under rent control (or any price ceiling that produces a shortage) the price paid by consumers equals the marginal cost of producing the good. Does this mean the output level is efficient? Explain. c) What does the contract curve in an Edgeworth production box signify? Why do competitive markets generate equilibriums that lie on the contract curve?
Conversely, show geometrically the effect of a decrease in Price (i.e., BELOW the equilibrium price). What “economic problem” is created now in the market. Measure geometrically he magnitude or distance of such “economic problem”. Again, in the face of such an economic problem, where private sector buyers and suppliers could not do anything more, which economic actor should come to intervene properly? Discuss what should that intervener do amidst such economic problem faced by the microeconomic actor – NOTABLY THE PRODUCER OR SELLER. As an Economist (or beyond the limits of Economic studies), what would you recommend to the VEGETABLE PRODUCERS and to the GOVERNMENT as well? Discuss exhaustively.
During a war, the government puts pressure on producers of military hardware, making their products more valuable. What theory about in does this represent? O cost-pull O cost-push O quantity O demand-pull
a. Suppose that the Scarceland economy is currently in recession, so that there is high level of unemployment. the Privs currently have enough government goods, and the Guvs have enough private goods, but each group has less of its own favored goods than it wants. what point is the economy at?--------- is it possible make both groups better off? How? b. A politician seeks support from both Privs and Guvs by promising to implement policies that will lead the economy to produce the amount of private goods favored by the Privis and government goods favored by the Guvs. what point is the Politician promising? Why? What's wrong with this promise? Could it fulfilled now? Could it fulfilled in time? How?
Supposed that there is widespread inefficiency in agricultural production in a region, due to low uptake of new information and new farming practices. Now suppose that agricultural extension services provided by the government lead to higher efficiency in production. a) Is this likely to improve overall wellbeing among farmers in the region? Does the answer to this question depend on whether the low efficiency prior to the government intervention is due to low allocative efficiency, low technical efficiency, or both? b) Does your answer to (a) depend on whether raising efficiency is costless for the farmers or not? Illustrate your answer graphically.
Suppose that in response to learning that some sick individuals were denied health insurance, the government mandates that insurance companies offer insurance to everyone at unregulated rates. (a) Would this help reduce the number of uninsured? Explain. (b) An alternative strategy for reducing the number of uninsured might be to mandate that insurance companies charge individuals with health problems no more than individuals without health problems. Would this help reduce the number of uninsured? Explain.
Looking at the scope of central planning in the Soviet Union post WW-II, between 1951 and 1960 the number of items for which output targets were set O a. increased from 1,600 items to 12,750 items. O b. increased from 10 items to 525 items. O c. decreased from 25,482 items to 16,351 items. O d. decreased tom 4,592 items to zero items (since central planning was abandoned in the country in 1960).
Which of the following questions does an economic system answer? Choose one or more: O A. Why should a society produce? O B. What should a socięty produce? O C. When should a society produce? O D. How much should a society produce? O E. How should a society produce things? O F. For whom should a society produce?
Why have many education experts recently placed an emphasis on altering the incentives that U.S. schools face rather than on increasing their budgets? Without endorsing any of these proposals as especially good or bad, list some of the ways in which incentives for schools might be altered.

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