When an Economist Is Asked a Question Like "Why Is

question 14

Multiple Choice

When an economist is asked a question like "why is unemployment higher for teenagers than for older workers?" the economist

• A)is asked to explain the cause of an economic event.
• B)is asked to recommend a policy to improve economic outcomes.
• C)is asked as a policy adviser.
• D)does not have enough information to respond.

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Definitions:

Interstate Commerce Commission

The first federal agency created in 1887, tasked with regulating the railroads to ensure fair rates, eliminate rate discrimination, and regulate other aspects of common carriers.

William Howard Taft

The 27th President of the United States (1909-1913) known for his conservative policies; later served as the 10th Chief Justice of the United States, making him the only person to have held both offices.

Theodore Roosevelt

The 26th President of the United States, known for his progressive policies, leadership of the Rough Riders, and role in negotiating the end of the Russo-Japanese War.

Republican Party

A major political party in the United States, also known as the GOP (Grand Old Party), with a conservative ideology focusing on limited government, free markets, and traditional values.