Economics in the News April 14, 2020 First study the news article linked below. 117 million children risk missing measles vaccines due to COVID-19 pandemic 1. Does the WHO support stopping measles vaccination programs? The WHO support stopping measles vaccination programs O A. doesn't; because people with measles are more susceptible to contracting COVID-19 O B. doesn't. even temporarily because the world cannot deal with a measles outbreak and a COVID-19 breakout simultaneously O C. does, because the world already has herd immunity D. does but only temporarily because children should not permanently miss out4. Why is a world vaccination rate of 100 percent inefficient? A world vaccination rate of 100 percent is inefficient because at that rate O A. marginal social cost equals marginal social benefit O B. marginal social benefit exceeds marginal social cost O C. marginal social cost exceeds marginal social benefit 5. Graphing Question The graph shows the supply curve of measles vaccinations. Draw the marginal private benefit curve and label it MPB. Draw the marginal social benefit curve and label it MSB Draw a point to show the quantity of vaccinations and the marginal social cost when people do not consider the externality. Label it P,. Draw a point at the efficient equilibrium when people consider the externality that results from receiving a measles vaccination. Label it P\f2. Why does a measles vaccination have an external benefit? A measles vaccination has an external benefit because O A. the marginal social benefit curve from measles vaccinations lies below the marginal private benefit curve O B. it does not cause autism O C. the marginal cost of measles vaccinations is constant O D. when one person is vaccinated it lowers the risk of others getting measles 3. How could the market for measles vaccinations be made efficient? The market for measles vaccinations could be made efficient if O A. the government taxed vaccinations O B. all vaccinations were free O C. people received a subsidy so that they internalize the externality O D. vaccinations became a common resource