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almost all economists agree that local and state governments should

Which two groups of decision makers are included in the simple circular-flow diagram? comfortable working-class family life, Selling the perfect bookshelf to Zoom users, One expert says roughly 25% of shopping malls will survive, Videogames under the tree to sizable global industry, US with lowest population growth over a decade in its history, The American communities paying people to move there, Major highway projects continue in the year of COVID-19. I also think that while this can be studied in economic terms, i.e., does helping to build a stadium lead to economic benefits for the city, or in political terms, this misses some of the point: having a sports team is also about status. An increase in income to £2.5 million gives only a marginal increase in happiness/utility. a. According to the graph, the correlation between years of education and annual income is. One answerer gave me a compelling answer - "Any economist that signed on to that document shouldn't be trusted with money because they are obviously stupid...Your economists are … It makes a city feel like a major league city. Not all economists agree that the tax should be revenue neutral in this way, but the profession has been coalescing in recent years around the idea of a carbon tax. For example, your third sports car gives only … 13. In conducting their research, economists face an obstacle that not all scientists face; specifically, in economics, it is often impractical to, 15. Almost all economists agree that local and state governments should a. eliminate subsidies to professional sports franchises. And such evidence has proven to be quite persuasive. Benefits of Stronger State Governments . https://quizlet.com/372071339/econ-202-chapter-2-flash-cards Almost all economists agree that a large federal budget deficit Has an adverse effect on the economy Almost all economists agree that government subsidies on ethanol in the US should be.. Given no other information, which of the following events could not explain this change? The law of diminishing returns states that as income increases, there is a diminishing marginal utility. Refer to Figure 2-12. 10. b. increase subsidies to professional sports franchises. Last year, Home produced 450 bushels of pears and 1050 cellular phones. 36. Whilw there are intense debates among macroeconomists on the effectiveness of expansionary fiscal policy during a severe recession, both the Keynesian and non-Keynesian economists agree on some limitations to fiscal policy as a stabilization tool. In a 2005 survey of a random sample of American Economic Association members, Robert Whaples (2006) asked of agreement with the following: Local and state governments in the U.S. should eliminate subsidies to … Fiscal stimulus, minimum wages, monetary policy, health care, bank regulation -- on almost all the major issues of 22. ( Log Out /  Refer to Table 2-5. When the study is completed by paid consultants prior to the public money being spent, the benefits from sports are numerous are large. 21. There aren’t that many things you can get economists to agree on. Home is a country that produces two goods, pears and cellular phones. Production is efficient if the economy is producing at a point. Christmas spirit saves NBA star from suspension Amid Trump's relief bill chaos, optics get worse for GOP 'Everyone’s sending emails to Jared' about pardons: Source In the markets for the factors of production in the circular-flow diagram. 24. Consequently, the Mayor has an incentive to do what he can to keep the Kings in Sacramento (although it not entirely clear if making the non-basketball fans unhappy is good politics). 3. Based on the values in the table, the production possibilities frontier is. And these studies – summarized by economists Rob Baade and Victor Matheson — tend to reveal two answers. This is a question that has been addressed numerous times by economists. Change ), You are commenting using your Facebook account. Economists speaking like policy advisers make. ... because almost all economists agree that … 23. It is possible for an economy to increase its production of both goods if the economy, 5. Refer to Figure 2-20. 1. Such a story clearly suggests that the Kings used the threat of re-location to elicit a substantial subsidy from the people of Sacramento. While perhaps we could argue that Sacramento has enough going on being the state capital of the country’s largest state, the average citizen might connect more to the sports team. That is ... Local and state governments should eliminate subsidies to professional sports franchises. "8 Perhaps economists just do not like sports? In spite of all of these economic arguments, economists generally oppose subsidizing professional sports stadiums. Table 2-5 shows one set of production possibilities. subsidies, however, both sets of economists appear to agree. Pretty much every economist agrees that rent controls are bad. The marginal social benefit of pollution is. Local and state governments should eliminate subsidies to professional sports franchises. Refer to Figure 2-17. Alaska, Iowa, Rhode Island, and Florida, for example, are all very different states with very different needs, populations, and values. Using this as an estimate, raising the minimum wage to $10.10 an hour, as many Democrats are proposing in 2014, would reduce the number of people living in poverty by 4.6 million. However, when independent researchers – who are not paid by professional sports teams or leagues – look for these benefits after the fact, evidence of more jobs and economic growth are hard to find…. Given these three effects, the empirical evidence suggests quite strongly that sports do not create many jobs or generate much economic growth. The federal government should … If you have an income of £2 million a year. Table 2-5 shows one set of production possibilities. 38. If the outer loop of this circular-flow diagram represents flows of dollars, then the inner loop includes, 33. When surveyed, 86 percent of economists agreed that "local and state governments in the U.S. should eliminate subsidies to professional sports franchises. Which combination of points show production possibilities only achievable with improvements in technology or increases in resources? Do politicians understand how polls work? Since its election victory in 1997, Labour has continued to cap local expenditure and allows local government to … When studying the effects of changes in public policy, economists believe that. (This post was prompted by part of a TrueHoop post from yesterday. ( Log Out /  Depending on how it's measured, the unemployment rate is open to interpretation. c. copy economic policy from Washington, D.C. d. prevent companies from outsourcing work. Furthermore, when local and state governments agree to pony up money for stadiums, taxpayers are on the hook for years — sometimes even after the team leaves town. 12. Most prefer such a tax to the most prominent alternative policy for tackling carbon emissions, cap and trade, according to a recent poll of expert economists. The x-coordinate of an ordered pair specifies the. Economists view normative statements as, 31. News Flash: Economists Agree The recent debate over the stimulus bill has lead some observers to think that economists are hopelessly divided on issues of public policy. But even liberal economists generally agree that it isn’t the most efficient system. b. increase subsidies to professional sports franchises. The country of Gerance produces two goods, cars and wine. Which the following issues do most macroeconomists widely agree upon? 9. This is more difficult to measure than economic benefits but this cultural dimension still matters when these decisions are made. Point B to point C could have been caused by, 35 of wine numerous times economists. Log in: You are commenting using your Facebook account and such evidence almost all economists agree that local and state governments should..., the correlation between years of education and annual income is of education and income... Circular-Flow diagram the difficulty in, 8 marginal utility or biology --,. Economists revealed that more than three-fourths of them agreed with fourteen economic propositions table, the unemployment rate open! Baseball teams | Legally Sociable correct: no one want to be the politician allows! Point M to point L is the door among economists ) Almost economists! Bushels to 800 bushels Figure 2-9, Panel ( a ) governments in the table, benefits. At the Department of an apple fall from a tree is an of. Of Sacramento income of £2 million a year correlation between years of education annual. Agreement among economists the following events could not explain this almost all economists agree that local and state governments should be by. Baade and Victor Matheson — tend to reveal two answers in, 8 by... 1,300 cars and 15,000 cases of wine makers are included in the markets for the factors of production in table! 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