8. Agreement and disagreement among economists Suppose that Kenji, an economist from a business school in Georgia, and Lucia, an economist from a public television program, are arguing over government intervention. The following dialogue shows an excerpt from their debate: Lucia: The usefulness of government intervention in the economy is a long-standing issue that economists continue to debate. Kenji: I feel that government involvement in the economy should be reduced because government programs cause more harm than good. Lucia: 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 Despite their differences, with which proposition are two economists chosen at random most likely to agree? O Tariffs and import quotas generally reduce economic welfare.

The United States President decides to raise tariffs on all imports of goods and services from China by 30%. Several studies and analyses have highlighted the costs and benefits of this policy. Which of the following are more likely to be unbiased studies/analyses, and which ones are more likely to be biased? -An article on the New York Times by a Nobel-prize winning economist who serves in the current Administration A peer-reviewed article published on the Scientific Journal "Econometrica" by a Nobel-prize winning economist who serves in the current Administration A working paper (i.e. not yet published) by an Economist which was funded through a research grant from the National Science Foundation to study trade policy A working paper (i.e. not yet published) by an Economist which was funded through a research grants awarded by the a think- tank that supports the ideology of the opposition party A. More likely to be biased B. More likely to be factual/unbiased C. More likely to be…

Suppose there is a policy debate over whether the United States should impose trade restrictions on imported ball bearings: A political pundit explains that it is necessary to impose trade restrictions, such as a tariff, on the ball-bearing industry to protect workers in the domestic ball-bearing industry. The pundit claims that without trade protection, there will be layoffs, causing many U.S. workers in the ball-bearing industry to be unemployed.   Which of the following justifications is the pundit using to argue for the trade restriction on ball bearings? National security argument   Employment argument   Cheap foreign labor argument   Infant industry argument

Ab 46  Economics