When Studying the Effects of Changes in Public Policy,economists Believe

question 237

Multiple Choice

When studying the effects of changes in public policy,economists believe that

• A)it is important to distinguish between the short run and the long run.
• B)the assumptions used in studying those effects should be the same for the short run as for the long run.
• C)the short-run effects of those changes are always more beneficial to society than are the long-run effects.
• D)the long-run effects of those changes are always more beneficial to society than are the short-run effects.

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Definitions:

Reference Group

A group with which an individual strongly identifies.

Majority Opinion

The view or standpoint held by the greater number of individuals within a group or society, often influencing social norms and individual behavior.

Minority Opinion

A viewpoint or perspective that is held by a smaller segment of the population, often differing from the majority view.

Automatic Process

Cognitive operations that occur without conscious awareness or effort, often enabling quick responses and multitasking.