8. Agreement and disagreement among economists Suppose that Edison, an economist from a research institute in Texas, and Hilary, an economist from a nonprofit organization on the West Coast, are arguing over budget deficits. The following dialogue shows an excerpt from their debate: ___________________________________________________________________________ Hilary: Most people recognize that the budget deficit has been rising considerably over the last century. We need to find the best course of action to remedy this situation. Edison: I believe that a cut in income tax rates would boost economic growth and raise tax revenue enough to reduce budget deficits. Hilary: I actually feel that raising the top income tax rate would reduce the budget deficit more effectively. _______________________________________________________________________________ 1/The disagreement between these economists is most likely due to............................ a.differences in scientific judgments. b.differences between perception versus reality. c.differences in values 2/Despite their differences, with which proposition are two economists chosen at random most likely to agree? ( multiple choice) a. Immigrants receive more in government benefits than they contribute in taxes. b. Rent ceilings reduce the quantity and quality of available housing. c. Having a single income tax rate would improve economic performance.
8. Agreement and disagreement among economists Suppose that Edison, an economist from a research institute in Texas, and Hilary, an economist from a nonprofit organization on the West Coast, are arguing over budget deficits. The following dialogue shows an excerpt from their debate: ___________________________________________________________________________ Hilary: Most people recognize that the budget deficit has been rising considerably over the last century. We need to find the best course of action to remedy this situation. Edison: I believe that a cut in income tax rates would boost economic growth and raise tax revenue enough to reduce budget deficits. Hilary: I actually feel that raising the top income tax rate would reduce the budget deficit more effectively. _______________________________________________________________________________ 1/The disagreement between these economists is most likely due to............................ a.differences in scientific judgments. b.differences between perception versus reality. c.differences in values 2/Despite their differences, with which proposition are two economists chosen at random most likely to agree? ( multiple choice) a. Immigrants receive more in government benefits than they contribute in taxes. b. Rent ceilings reduce the quantity and quality of available housing. c. Having a single income tax rate would improve economic performance.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter31: The Impacts Of Government Borrowing
Section: Chapter Questions
Problem 16CTQ: Assume there is no discretionary increase in government spending. Explain how an improving economy...
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8. Agreement and disagreement among economists
Suppose that Edison, an economist from a research institute in Texas, and Hilary, an economist from a nonprofit organization on the West Coast, are arguing over budget deficits. The following dialogue shows an excerpt from their debate:
___________________________________________________________________________
Hilary: Most people recognize that the budget deficit has been rising considerably over the last century. We need to find the best course of action to remedy this situation.
Edison: I believe that a cut in income tax rates would boost economic growth and raise tax revenue enough to reduce budget deficits.
Hilary: I actually feel that raising the top income tax rate would reduce the budget deficit more effectively.
_______________________________________________________________________________
1/The disagreement between these economists is most likely due to............................
a.differences in scientific judgments.
b.differences between perception versus reality.
c.differences in values
2/Despite their differences, with which proposition are two economists chosen at random most likely to agree? ( multiple choice)
a. Immigrants receive more in government benefits than they contribute in taxes.
b. Rent ceilings reduce the quantity and quality of available housing.
c. Having a single income tax rate would improve economic performance.
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