Economic Thinking During a Pandemic

What was one of the key recommendations made to the US government regarding the vaccine sector during the pandemic?

• To focus solely on domestic vaccine distribution

• To limit the production of vaccines

• To subsidize at-risk capacity and guarantee sales

• To increase taxes on vaccine companies

How did public perception differ from economic intuition regarding vaccine profitability?

• Public feared excessive profits, while economists saw a need for incentives

• Economists believed vaccines were too profitable

• Public thought vaccines were not profitable enough

• Both public and economists agreed on vaccine pricing

What was a major challenge in understanding the spread of COVID-19?

• Linear growth

• Exponential growth

• Cyclical growth

• Static growth

What was the economic rationale behind dose-stretching policies during the pandemic?

• To ensure equal distribution of vaccines

• To maximize societal health by prioritizing first doses

• To minimize vaccine costs

• To maximize the health of the treated

Why were human challenge trials controversial during the pandemic?

• They were too expensive

• They were seen as unethical by some due to direct exposure to the virus

• They were not scientifically valid

• They took too long to conduct

What criticism did economists face when discussing pandemic policies?

• They were praised for their insights

• They were accused of being too cautious

• They were criticized for not staying in their lane

• They were ignored by policymakers

What is the economist's role in evaluating trade-offs during a pandemic?

• To prioritize public health over all else

• To evaluate trade-offs between different societal needs

• To focus solely on economic growth

• To avoid making any policy recommendations

What was one of the contributions of Fast Grants during the pandemic?

• Supporting clinical trials and scientific research quickly

• Creating new vaccines independently

• Funding military research

• Developing new economic models

Why is prior knowledge about pandemics important for economists?

• It is irrelevant to economic studies

• It aids in understanding potential economic impacts and policy responses

• It is necessary for developing new vaccines

• It helps in predicting stock market trends

What educational value does pandemic policy discussion offer in economics?

• It provides no significant insights

• It helps in understanding trade-offs and societal impacts

• It is limited to historical analysis

• It focuses only on healthcare policies