Economic Policy That Appears to Be Ideal in an Economics

question 398

Multiple Choice

Economic policy that appears to be ideal in an economics textbook may not be the final policy that is approved by elected politicians because

• A)sometimes a politician's self interest may conflict with the national interest.
• B)economics professors have a notoriously low voting rate.
• C)only policies advocated by the President's Council of Economic Advisors receive enough national attention to interest politicians.
• D)Economists cannot explain why politicians do not implement the ideas from their textbooks.

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Definitions:

Different Assumptions

The varying underlying beliefs or ideas that individuals or groups hold, which can influence perceptions, decisions, and behaviors in diverse contexts.

Hawthorne Studies

A series of experiments conducted in the 1920s and 1930s that revealed the importance of social relations and worker satisfaction in the workplace.

Conclusion

The end or final part of something, such as a document or project, often summarizing the key points or outcomes.

Classical Approach

A management theory focused on the efficiency, productivity, and output of work processes, advocating for a structured organization and clear division of labor.