8. Agreement and disagreement among economists Suppose that Brian, an economist from a consulting firm, and Crystal, another economist from a graduate program in the Northeast, are both guests on a popular science podcast. The host of the podcast is facilitating their debate over saving incentives. The following dialogue represents a portion of the transcript of their discussion: Crystal: I think it's safe to say that, in general, the savings rate of households in today's economy is much lower than it really needs to be to sustain an improvement in living standards. Brian: I think a switch from the income tax to a consumption tax would bring growth in living standards. Crystal: You really think households would change their saving behavior enough in response to this to make a difference? Because I don't. 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? Business managers can raise profit more easily by reducing costs than by raising revenue. O Employers should not be restricted from outsourcing work to foreign nations. O Central banks should focus more on maintaining low unemployment than on maintaining low inflation. The disagreement between these economists is most likely due to Despite their differences, with which proposition are two economis Business managers can raise profit more easily by reduc O Employers should not be restricted from outsourcing wo differences in values differences between perception versus reality differences in scientific judgments Central banks should focus more on maintaining low unemployment than on maintaining low inflation.
8. Agreement and disagreement among economists Suppose that Brian, an economist from a consulting firm, and Crystal, another economist from a graduate program in the Northeast, are both guests on a popular science podcast. The host of the podcast is facilitating their debate over saving incentives. The following dialogue represents a portion of the transcript of their discussion: Crystal: I think it's safe to say that, in general, the savings rate of households in today's economy is much lower than it really needs to be to sustain an improvement in living standards. Brian: I think a switch from the income tax to a consumption tax would bring growth in living standards. Crystal: You really think households would change their saving behavior enough in response to this to make a difference? Because I don't. 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? Business managers can raise profit more easily by reducing costs than by raising revenue. O Employers should not be restricted from outsourcing work to foreign nations. O Central banks should focus more on maintaining low unemployment than on maintaining low inflation. The disagreement between these economists is most likely due to Despite their differences, with which proposition are two economis Business managers can raise profit more easily by reduc O Employers should not be restricted from outsourcing wo differences in values differences between perception versus reality differences in scientific judgments Central banks should focus more on maintaining low unemployment than on maintaining low inflation.
Chapter8: The Keynesian Model
Section: Chapter Questions
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Transcribed Image Text:8. Agreement and disagreement among economists
Suppose that Brian, an economist from a consulting firm, and Crystal, another economist from a graduate program in the Northeast, are both guests
on a popular science podcast. The host of the podcast is facilitating their debate over saving incentives. The following dialogue represents a portion of
the transcript of their discussion:
Crystal: I think it's safe to say that, in general, the savings rate of households in today's economy is much lower than it really needs to
be to sustain an improvement in living standards.
Brian: I think a switch from the income tax to a consumption tax would bring growth in living standards.
Crystal: You really think households would change their saving behavior enough in response to this to make a difference? Because I
don't.
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?
Business managers can raise profit more easily by reducing costs than by raising revenue.
O Employers should not be restricted from outsourcing work to foreign nations.
O Central banks should focus more on maintaining low unemployment than on maintaining low inflation.
Transcribed Image Text:The disagreement between these economists is most likely due to
Despite their differences, with which proposition are two economis
Business managers can raise profit more easily by reduc
O Employers should not be restricted from outsourcing wo
differences in values
differences between perception versus reality
differences in scientific judgments
Central banks should focus more on maintaining low unemployment than on maintaining low inflation.
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