What is the B-C ratio in Cost-Benefit Analysis?
Economics: CBA

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1.
FLASHCARD QUESTION
Front
Back
The B-C ratio (Benefit-Cost ratio) is used to determine if a program's benefits outweigh its costs. A ratio greater than 1 indicates benefits exceed costs.
2.
FLASHCARD QUESTION
Front
What is a major disadvantage of conducting a Cost-Benefit Analysis (CBA)?
Back
A major disadvantage of CBA is the difficulty in assigning a monetary value to health outcomes, which can lead to inaccurate assessments.
3.
FLASHCARD QUESTION
Front
What is the most common alternative when identifying options for a CBA?
Back
The most common alternative is 'do nothing', which serves as a baseline for comparison.
4.
FLASHCARD QUESTION
Front
How is the wage rate estimated in economic evaluations?
Back
The wage rate is estimated from income data, reflecting the average earnings of individuals in a specific context.
5.
FLASHCARD QUESTION
Front
Calculate the daily wage rate given an average yearly income of $40,000 and 240 days worked per year.
Back
Daily wage rate = $40,000 / 240 = $167/day.
6.
FLASHCARD QUESTION
Front
What is the formula for calculating cost savings in a CBA?
Back
Cost savings = Average loss of productivity before intervention - Average loss of productivity after intervention.
7.
FLASHCARD QUESTION
Front
If the average loss of productivity before an asthma clinic is $3,340 and after is $1,169, what are the cost savings?
Back
Cost savings = $3,340 - $1,169 = $2,171.
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