Macro cost/benefit analysis #1 There is an ongoing debate amongst Americans about the usefulness of the penny. Many Americans see the penny as nothing more than a nuisance, while others see it as an important part of our culture. The value of the penny has dropped so low that many stores have a small cup for people to leave or take a penny as needed. The United States eliminated the halfpenny in 1857 for much the same reason; it was of little practical value. Carefully read the information below, and then do three things with the data. (1) Make two columns (one for costs and the other for benefits) and place each piece of information in the correct column. (2) Prioritizo cach list, from most important to least important. (3) Write a three-paragraph analysis. Paragraphs one and two should explain why you feel the top two costs and top two benefits are the most important. Finally. paragraph three is your analysis, based on your interpretation of all the facts listed below, explain whether you believe we should get rid of the penny or not. The paper should be typed and no more than one page in length. 1. One consumer group is concerned that the elimination of the penny could lead to higher prices. Retailers may take advantage of the situation by rounding up to the nearest nickel. 2. Currently, it costs the government roughly 1.76 cents for every penny it mints, By eliminating the penny, we could save close to 116 million per year. 3. Of course, we would need to make more nickels, which could cost up to 70 million more than we currently spend on nickels. 4. The Coin Coalition points out that no vending machine will accept pennies. Even gumball machines charge at least a nickel. So, getting rid of the penny is better for vending machines. 5. The government is forced to produce 7 billion pennies a year because they do not circulate. People take them home and put them in a jar and forget about them. 6. Pennies add 2-2.5 seconds to every cash transaction (looking for them and counting them out). All total, this adds up to fours hours of lost productivity for every man, woman and child in the United States every year. 7. If the penny is eliminated, stores will have slightly less flexibility to set prices and would have to spend time and money to reset prices and cash registers. 8. Many people have an emotional connection to the penny because of its history. It's been in circulation since 1793, and it has borne Abraham Lincoln's face since 1909. We lose that connection if we get rid of the penny. 9. Many charities however are against eliminating the penny. People are often willing to donate their pennies and other spare change to any worthy cause. 10. By eliminating the penny, it will free up room in cash registers for 50e coins or dollar coins to circulate more casily, making most transactions faster. Macro cost/benefit analysis #1 There is an ongoing debate amongst Americans about the usefulness of the penny. Many Americans see the penny as nothing more than a nuisance, while others see it as an important part of our culture. The value of the penny has dropped so low that many stores have a small cup for people to leave or take a penny as needed. The United States eliminated the halfpenny in 1857 for much the same reason; it was of little practical value. Carefully read the information below, and then do three things with the data. (1) Make two columns (one for costs and the other for benefits) and place each piece of information in the correct column. (2) Prioritizo cach list, from most important to least important. (3) Write a three-paragraph analysis. Paragraphs one and two should explain why you feel the top two costs and top two benefits are the most important. Finally. paragraph three is your analysis, based on your interpretation of all the facts listed below, explain whether you believe we should get rid of the penny or not. The paper should be typed and no more than one page in length. 1. One consumer group is concerned that the elimination of the penny could lead to higher prices. Retailers may take advantage of the situation by rounding up to the nearest nickel. 2. Currently, it costs the government roughly 1.76 cents for every penny it mints, By eliminating the penny, we could save close to 116 million per year. 3. Of course, we would need to make more nickels, which could cost up to 70 million more than we currently spend on nickels. 4. The Coin Coalition points out that no vending machine will accept pennies. Even gumball machines charge at least a nickel. So, getting rid of the penny is better for vending machines. 5. The government is forced to produce 7 billion pennies a year because they do not circulate. People take them home and put them in a jar and forget about them. 6. Pennies add 2-2.5 seconds to every cash transaction (looking for them and counting them out). All total, this adds up to fours hours of lost productivity for every man, woman and child in the United States every year. 7. If the penny is eliminated, stores will have slightly less flexibility to set prices and would have to spend time and money to reset prices and cash registers. 8. Many people have an emotional connection to the penny because of its history. It's been in circulation since 1793, and it has borne Abraham Lincoln's face since 1909. We lose that connection if we get rid of the penny. 9. Many charities however are against eliminating the penny. People are often willing to donate their pennies and other spare change to any worthy cause. 10. By eliminating the penny, it will free up room in cash registers for 50e coins or dollar coins to circulate more casily, making most transactions faster