Question

Suppose a local city council hires a team of economists from a nearby university to conduct a cost-benefit analysis of building a new public school. The economists should consider which of the following: i) the benefits to the children who will use the school ii) the costs to the tax payers who will pay for the school iii) the increased productivities of the teachers iv) the benefits to the community of having better-educated children?

i) the benefits to the children who will use the school
2) the costs to the tax payers who will pay for the school
3) the increased productivities of the teachers
4) the benefits to the community of having better-educated children

Answer 1

When conducting a cost-benefit analysis of building a new public school, economists should consider the benefits to the children, costs to taxpayers, increased productivity of teachers, and benefits to the community.

Step-by-step explanation:

When conducting a cost-benefit analysis of building a new public school, economists should consider several factors:

1. The benefits to the children who will use the school: This includes improved education, better opportunities, and personal growth.
2. The costs to the taxpayers who will pay for the school: This involves the financial burden on the community and the potential impact on taxes.
3. The increased productivities of the teachers: A new school can bring in more qualified and motivated teachers, leading to better educational outcomes.
4. The benefits to the community of having better-educated children: This encompasses positive societal outcomes such as improved health, reduced crime rates, and a stronger democratic system.

Considering all these factors is crucial to determine whether building a new public school is a worthwhile investment for both the individuals and the community.