Question

Agreement and disagreement among economists

Suppose that Hubert, an economist from a university in Arizona, and Kate, an economist from a school of industrial relations, are arguing over saving incentives. The following dialogue shows an excerpt from their debate:
Kate: 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.
Hubert: I believe that a cut In income tax rates would boost economic growth and raise tax revenue enough to reduce budget deficits.
Kate: 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?
A. Lawyers make up an excessive percentage of elected officials.
B. Tariffs and Import quotas generally reduce economic welfare.
C. Minimum wage laws do more to harm low-skilled workers than help them.

Answer 1

Answer and Explanation:

The disagreement arise between this economist is due to the differences in the scientific judgements as they disagree due to the various scientific judgements. And, despite their differences, the proposition of two economists should be chosen at random as the tariff and import quotas normally decreased the economic welfare as it always result in deadweight loss and in this both economist should be agree for the same