National Budget Simulation Worksheet

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National Budget Simulation Worksheet

  1. The program cuts that were made will increase the cost of acquiring goods and services by the elderly. Additionally, the cuts will affect students’ studies through making scholarly necessities unavailable for example, lighting required for reading. Environmentalists will benefit from the program cuts because natural energy sources will be conserved. Producers will suffer losses because energy consumption by consumers will reduce.
  2. The Energy Efficient Program was chosen for the cutting decisions to be made. It was preferred over other programs because it has the largest financial and economic impact on all groups of people. Moreover, it has a huge impact on the global market environment.
  3. Other program cuts would have less impact as compared to energy. This is because power is used to run most programs and without it, other plans would not be executed efficiently. The budget cuts that have the most impact of reducing deficit are the slashes in distribution. This is because a reduction in supply will cut on the expenses encountered by companies to distribute power.
  4. The decision of rationing power supply while increasing the cost of acquisition by consumers is considered as politically motivated. This is because the decision aims at increasing government revenues though charging people with exorbitant taxes.
  5. The tradeoffs of preserving the Energy Efficient Program while protecting others are beneficial in conserving power and saving on health funds. This is because preserving energy reduces the occurrence of accidents caused by power failure and faulty sources of energy.
  6. The decisions made do not increase the marginal benefit to society. However, the marginal costs will increase. This is because the goods and services offered by energy do not have extra benefits, with increased costs and reduced distribution.
  7. The best decision would be to cut programs. This is because increasing taxes makes the goods and services unavailable to most consumers. However, cutting programs ensures that goods and services are provided equally to all consumers, regardless of the reduced supply.

 

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