What is one of the criticisms of government experts compared to market experts? Question 20 options: Government experts are paid more than private experts Market experts have less competition than government experts Government experts always perform better than market experts Market experts have a direct financial incentive to succeed, while government experts do not
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Suppose that Brian, an economist from a business school in Georgia, and Crystal, an economist from a university in Massachusetts, are arguing over government intervention. The following dialogue shows an excerpt from their debate: Crystal: The usefulness of government intervention in the economy is a long-standing issue that economists continue to debate. Brian: I feel that government involvement in the economy should be reduced because government programs cause more harm than good. Crystal: 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: A. Differences in values B. Differences in scientific judgment C. Differences in perception versus reality Despite their differences, with which proposition are two economists chosen at random most likely to agree? A. Minimum wage laws do more to harm low-skilled workers than help them. B. Tariffs and import quotas generally reduce economic welfare. C. Lawyers make up an excessive percentage of elected officials.
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Suppose that Gilberto, an economist from a business school in Georgia, and Juanita, an economist from a university in Massachusetts, are arguing over government intervention. The following dialogue shows an excerpt from their debate: JUANITA: The usefulness of government intervention in the economy is a long-standing issue that economists continue to debate. GILBERTO: I feel that government involvement in the economy should be reduced because government programs cause more harm than good. JUANITA: While I 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 _____________ (options: differences in values, imperfect information). Despite their differences, with which proposition are two economists chosen at random most likely to agree? A. Rent controls will only add value to housing in a city. B. Free trade is usually preferable to the erection of tariffs and quotas. C. Taxing polluters will never help to protect the environment.
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