If the Construction of a New Hospital Would Create $6

question 94

Multiple Choice

If the construction of a new hospital would create $6 million worth of benefits for citizens and would cost $8 million to construct, then using the criterion of economic efficiency, the hospital

• A) should be built.
• B) should not be built.
• C) results in a substantial improvement to the welfare of society.
• D) should be built if it passes by a majority vote.

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Definitions:

Big Picture

An overall or broad perspective on a situation, considering all aspects, implications, and interconnections rather than focusing on details.

Strategic Thinking/Planning

The process of developing long-term visions and objectives, and outlining the necessary steps to achieve them, focusing on critical analysis and forward-looking perspectives.

Gallup Poll

A survey designed to sample public opinion on various subjects, conducted by the Gallup Organization, known for its national and global polls.

Executives

High-level managers in organizations, responsible for making strategic decisions and ensuring operational effectiveness.