8. Agreement and disagreement among economists Suppose that Musashi, an economis
ID: 1134082 • Letter: 8
Question
8. Agreement and disagreement among economists Suppose that Musashi, an economist from an AM talk radio program, and Rina, an economist from a university in Massachusetts, are arguing over budget deficits. The following dialogue shows an excerpt from their debate: Rina: 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. Musashi: I believe that a cut in income tax rates would boost economic growth and raise tax revenue enough to reduce budget deficits. Rina: 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 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.Explanation / Answer
Respective fields to which they belong
The diagreement between these economists is most likely due to the fields to which they belong as one is from the radio program and other is from the university so the intensity defers.
business managers can raise profit more easily by reducing costs than by raising revenue
They might agree on the above point despite their differences as from their dialogues it is clear that they are not ready to increase the revenue by any chance to decrease the budget deficit. Both of them are keen on the income tax part rather then increasing the tax rates or revenue.
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