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. 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 Despite their differences, with which proposition are two economists chosen at random most likely to agree? 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.
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. 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 Despite their differences, with which proposition are two economists chosen at random most likely to agree? 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.
Chapter17: Federal Deficits, Surpluses, And The National Debt
Section: Chapter Questions
Problem 7SQP
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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.
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
Despite their differences, with which proposition are two economists chosen at random most likely to agree?
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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