Question

In: Economics

If a law clearly says that you need to reach a particular outcome and you want...

If a law clearly says that you need to reach a particular outcome and you want to figure out the most efficient way to achieve that outcome, the best tool for analysis is probably ___

cost-effectiveness analysis

regulatory analysis

Green GDP analysis

benefit-cost analysis

Solutions

Expert Solution

Solution:

When a particular outcome is to be reached and we are looking for the most efficient way to reach it, we are basically supposed to analyze and make comparisons between different ways of reaching the outcome and choosing the best way; best in terms of say minimum cost, minimum time, minimum resource engagement, etc.

Now, regulatory analysis mainly involves an analysis based on small level for some regulation to be introduced in the economy, to know about the consequences, and results of the regulation; clearly it doesn't serve our purpose here. Green GDP involves the environmental consequences evaluating a nation's GDP which again doesn't have much to do with the question at hand. Cost-benefit analysis is mainly undertaken when some investment decisions are to be made or something that involves risk. Basically it helps in finding an answer to the question in a yes or a no, rather than this way or that way something shall be attained.

Cost-effectiveness analysis helps us compare and choose among various course of actions possible to undertake in order to achieve something. So, this suits best for the current situation, making the correct option (A) cost-effectiveness analysis.


Related Solutions

A nurse says that her conscience clearly dictates that she should not assist at a particular...
A nurse says that her conscience clearly dictates that she should not assist at a particular operation. One of the doctors present says that he went to a Catholic medical school and he would assure her that the operation is not immoral. Should the nurse follow her conscience or the advice of the doctor?
A nurse says that her conscience clearly dictates that she should not assist at a particular...
A nurse says that her conscience clearly dictates that she should not assist at a particular operation. One of the doctors present says that he went to a Catholic medical school and he would assure her that the operation is not immoral. Should the nurse follow her conscience or the advice of the doctor?
. You are mountain climbing with a friend. You need to reach a ledge that is...
. You are mountain climbing with a friend. You need to reach a ledge that is 22 feet above you. You toss a grappling hook with a velocity of 32 feet per second. The equation that models the path of your hook is given by the function below: h(t)=−16t2+32t+5 a. Write the equation in vertex form. Describe the graph by identifying the vertex, axis of symmetry, and the direction of the opening. b. What is the maximum height you have...
Suppose you’re a doctor and you read a headline in a newspaper that says a particular...
Suppose you’re a doctor and you read a headline in a newspaper that says a particular dietary supplement decreases blood pressure with p = 0.01. The supplement is generally safe but sometimes causes unpleasant side effects. Assuming this is all you know, answer the questions below. a) What does this headline mean? Incorporate the definition of p-value into your answer. b) Should you recommend the supplement to patients with high blood pressure? Why or why not? Give at least two...
You feel that you will need $3.7 million in your retirement account and when you reach...
You feel that you will need $3.7 million in your retirement account and when you reach that amount, you plan to retire. You feel you can earn an APR of 10.2 percent compounded monthly and plan to save $530 per month until you reach your goal. How many years will it be until you reach your goal and retire? Multiple Choice 48.48 years 40.37 years 37.26 years 42.21 years 34.60 years
You feel that you will need $3.4 million in your retirement account and when you reach...
You feel that you will need $3.4 million in your retirement account and when you reach that amount, you plan to retire. You feel you can earn an APR of 10.5 percent compounded monthly and plan to save $485 per month until you reach your goal. How many years will it be until you reach your goal and retire?
Law of Supply: You will need to use software to answer these questions. The Law of...
Law of Supply: You will need to use software to answer these questions. The Law of Supply states that an increase in price will result in an increase in the quantity supplied (assuming all other factors remain unchanged). Below is the scatterplot, regression line, and corresponding data for price (x) -vs- quantity supplied (y).           index Price (x) Supply (y) 1 3.00 324 2 4.00 254 3 4.25 557 4 4.75 355 5 5.00 385 6 5.00 360 7 6.50...
You need to clearly identify at least 3 distinct, substantive issues. For each issue you need...
You need to clearly identify at least 3 distinct, substantive issues. For each issue you need to 1), identify evidence from the case text that shows why this issue is important, 2), use theory from our textbook as a base for your analysis, and 3), draw an analogy from library materials other than the textbook to strengthen your argument Assume that you are the Director of Human Resources for a Fortune 500 firm (a Fortune 500 firm is one of...
******You do not need to get everything working exactly as it says, I mostly just need...
******You do not need to get everything working exactly as it says, I mostly just need an outline of how to create this GUI and add up the costs and print them all out. Any help at all will be greatly appreciated******* Design and implement a Java program that creates a GUI that will allow a customer to order pizza and other items from a Pizza Paarlor.  The customer should be able to order a variety of items which are listed...
Bernice Ledbetter, a faculty member at Pepperdine University, says "The outcome of the trial sends a...
Bernice Ledbetter, a faculty member at Pepperdine University, says "The outcome of the trial sends a message that women simply have to accommodate such disappointing cultures.” She also said, “ you'd better work hard and make sure everyone around you knows the quality of your work and make sure that quality is unquestionable.” Do you agree with her point of view? Defend your response. What steps should Kliener Perkins take to make its culture more attractive to talented women and...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT