Suppose that Hubert, an economist from an AM talk radio program, and Kate, an ec
ID: 1147283 • Letter: S
Question
Suppose that Hubert, an economist from an AM talk radio program, and Kate, an economist from a school of industrial relations, are arguing over government intervention. The following dialogue shows an excerpt from their debate: Kate: The usefulness of government intervention in the economy is a long-standing issue that economists continue to debate. Hubert: I feel that government involvement in the economy should be reduced because government programs cause more harm than good. Kate: 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? Employers should not be restricted from outsourcing work to foreign nations Business managers can raise profit more easily by reducing costs than by raising revenue Central banks should focus more on maintaining low unemployment than on maintaining low inflation.Explanation / Answer
1) Solution: Difference in values
Explanation: The main two causes to disagree are a difference in values and a difference in scientific judgments. In current scenario, the economists are in disagreement due to differences in values as they disagree on the government intervention
2) Solution: Employers should not be restricted from outsourcing work to foreign nations
Explanation: It will be difficult to find an economist who both agrees with either of the propositions