1. Rank all the programs 112, with the most "cost-effective" as measured by "cost per life saved" (cost per life saved = annual cost/annual life years saved) at the top of your list and the least cost effective at the bottom. Given that your budget is $49,009,357, which programs from both lists would you recommend implementing? 2. Which existing programs would you recommend eliminating? What is the total annual cost of the programs you're eliminating? How many life-years will be lost because of these programs being eliminated? 3. Which proposed programs would you implement in their place? What is the total annual cost of the programs you're adding? How many life-years will be saved because of the programs? (Note: The total annual cost of your new programs shouldn't be greater than the total annual cost of the programs you're eliminating.) 4. How many life-years did you save by selecting programs based on their cost-effectiveness? Did you have any money left over? If so, how much? 5. Suppose a congresswoman calls to complain about some of the programs you've proposed cutting. "These programs don't cost taxpayers a cent," she said. "Businesses are required to implement them in order to comply with regulations." How would you reply? Suppose you're hired by the government to be a decision-making consultant. Your task is to see if you can save more lives for the same cost by eliminating inefficient government programs and replacing them with others that deliver "more bang for the buck." The following table shows the costs and benefits of some proposed programs Macroeconomics - Fiscal Policy Project| The following table shows some government health and safety programs, along with estimates of each program's annual cost and benefit. Each benefit is expressed in lifevears. or the additional vears of life neonle c.an exnect to eniov as a result of the