8. Agreement and disagreement among economists Suppose that Raphael, an economist from a business administration program in Georgia, and Susan, another economist from a nonprofit institution in the Midwest, are both guests on a popular science podcast. The host of the podcast is facilitating their debate over government intervention. The following dialogue represents a portion of the transcript of their discussion: Susan: The usefulness of government intervention in the economy is a long-standing issue that economists continue to debate. Raphael: I feel that government involvement in the economy should be reduced because government programs cause more harm than good. Susan: While I do agree that government programs can be inefficient, I really think they are necessary to help the less fortunate. The disagreement between these economists is most likely due to differences in values Despite their differences, with which proposition are two economists chosen at random most likely to agree? O Business managers can raise profit more easily by reducing costs than by raising revenue. O Central banks should focus more on maintaining low unemployment than on maintaining low inflation. O Employers should not be restricted from outsourcing work to foreign nations.
8. Agreement and disagreement among economists Suppose that Raphael, an economist from a business administration program in Georgia, and Susan, another economist from a nonprofit institution in the Midwest, are both guests on a popular science podcast. The host of the podcast is facilitating their debate over government intervention. The following dialogue represents a portion of the transcript of their discussion: Susan: The usefulness of government intervention in the economy is a long-standing issue that economists continue to debate. Raphael: I feel that government involvement in the economy should be reduced because government programs cause more harm than good. Susan: While I do agree that government programs can be inefficient, I really think they are necessary to help the less fortunate. The disagreement between these economists is most likely due to differences in values Despite their differences, with which proposition are two economists chosen at random most likely to agree? O Business managers can raise profit more easily by reducing costs than by raising revenue. O Central banks should focus more on maintaining low unemployment than on maintaining low inflation. O Employers should not be restricted from outsourcing work to foreign nations.
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter11: Public Goods And Common Resources
Section: Chapter Questions
Problem 3PA
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Transcribed Image Text:8. Agreement and disagreement among economists
Suppose that Raphael, an economist from a business administration program in Georgia, and Susan, another economist from a nonprofit institution in
the Midwest, are both guests on a popular science podcast. The host of the podcast is facilitating their debate over government intervention. The
following dialogue represents a portion of the transcript of their discussion:
Susan: The usefulness of government intervention in the economy is a long-standing issue that economists continue to debate.
Raphael: I feel that government involvement in the economy should be reduced because government programs cause more harm than
good.
Susan: While I do agree that government programs can be inefficient, I really think they are necessary to help the less fortunate.
The disagreement between these economists is most likely due to
differences in values
Despite their differences, with which proposition are two economists chosen at random most likely to agree?
O Business managers can raise profit more easily by reducing costs than braising revenue.
O Central banks should focus more on maintaining low unemployment than on maintaining low inflation,
Ⓒ Employers should not be restricted from outsourcing work to foreign nations.
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