In cost-effectiveness analysis, constant cost studies:
a. are rarely used
b. attempt to specify the output which may be achieved from a number of alternative programs, assuming all are funded at the same level
c. are useless because they fail to adequately evaluate program benefits
d. try to find the least expensive way of achieving a certain objective
e. none of the above
b
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Suppose transactions costs are created by a principal-agent problem. If the objective is economic efficiency, who should be made liable for damages resulting from the interaction of the principal and the agent?
a. The principal should be liable for all damages. b. The agent should be liable for all damages. c. Liability for damages should be equally split between the principal and the agent. d. The assignment of liability is irrelevant according to the Coase Theorem.
"Good news" about an expenditure-related indicator means that
A) it is higher than its previous value. B) it is higher than it was expected to be. C) it is lower than its previous value. D) it rose faster than the rate of inflation.
The purchase of a virtual item from an online company with a virtual currency causes the nation's:
a. Monetary base to fall. b. M2 money supply to fall. c. M2 money multiplier to fall. d. Monetary base to remain the same.
The GDP of the United States in 2014 was around $17.4 trillion. This means
A. that the value of output produced by U.S.-owned resources was less than $17.4 trillion. B. that total spending in the U.S. in 2014 was more than $17.4 trillion. C. that total income in the U.S. in 2014 was more than $17.4 trillion. D. that the value of output produced in the U.S. in 2014 was around $17.4 trillion.