Business, 15.07.2020 01:01 andrewrangel63

Suppose that Edison, an economist from a university in Arizona, and Hilary, an economist from a school of industrial relations, are arguing over government bailouts. The following dialogue shows an excerpt from their debate: Hilary: Thanks to recent financial crises, the concept of bailouts is a hot topic for debate among everyone these days. Edison: Indeed, it's gotten crazy! A government bailout of severely distressed financial firms is unnecessary because free markets will properly price assets. Hilary: I don't know about that. Without a bailout of severely distressed financial firms, the economy will experience a deep recession. The disagreement between these economists is most likely due todifferences in values . Despite their differences, with which proposition are two economists chosen at random most likely to agree? Minimum wage laws do more to harm low-skilled workers than help them. Lawyers make up an excessive percentage of elected officials. Tariffs and import quotas generally reduce economic welfare.

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Suppose that Edison, an economist from a university in Arizona, and Hilary, an economist from a scho...