Sometimes Economists Disagree Because Their Values Differ

question 3

Multiple Choice

Sometimes economists disagree because their values differ.Which of the following instances best reflects this source of disagreement?

• A)One economist believes the North American Free Trade Agreement (NAFTA)has led to a loss of American jobs;another economist disputes this claim.
• B)One economist believes that when income taxes are cut,people will increase their spending;another economist believes that when income taxes are cut,people will increase their saving.
• C)One economist advises against increases in sales taxes because she thinks such increases are unfair to low-income people;another economist disputes the idea that increases in sales taxes are unfair to low-income people.
• D)One economist believes that,prior to the Civil War,slavery contributed to economic growth in the South;another economist believes that slavery held back the South's economic growth.

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Definitions:

Industrial Engineering

A branch of engineering focused on optimizing complex processes, systems, or organizations by improving productivity, efficiency, and safety.

Emotional Intelligence

The capacity to recognize, understand, manage, and reason with emotions, both in oneself and in others.

Judicial Decisions

Rulings or conclusions by courts concerning laws, constitutions, or cases that serve as precedents for subsequent legal decisions.

Law of Contracts

The branch of law dealing with the creation and enforcement of agreements between parties, outlining the obligations that each party must fulfill.