How is Economic policy more scientific than economic theory

Which of the given LEAST describes the widespread but erroneous view which economists seldom agree: (1) The media focuses upon controversy, not agreement. (2) Political considerations, more than economic logic, find out policies. (3) Some economists may feel obligated to agree publicly along with the president although they disagree privately. (4) Economic policies depend upon controversial value judgments. (5) Economic policy is more scientific than economic theory.

Illustrate one option from the above in the specified options.

View Complete Question

Related Questions in Microeconomics

Q : Problem regarding Subjective Prices

Mike trades 6 vintage baseball cards for the Jake’s original Ty Cobb card. When Mike’s six cards had equivalent total market value with Jake’s Ty Cobb card, then this trade would show: (i) Unfair incentive. (ii) Demand price. (iii) Opportunity cost.

Q : Implicit Costs-Value of time

Congratulations! You have made a fortune after establishing the firm which publishes bestselling books of the economic poetry. Your implicit costs comprise: (1) Salaries for your firm’s website designer. (2) The value of your time. (3) Fees for cleaning the serv

Q : Determine price elasticity of demand

When a $9.98 sale on regular $19.95 watch fobs increases a store's sales from 30 to 300 weekly, the price elasticity of the demand faced through the store is approximately: (w) 2.46. (x) 1.23. (y) 4.92. (z) 0.62. C

Q : Set price equal to produce output

Assume that HoloIMAGine’s patents for holographic technology lapsed, as well as entry of new competitors within this market eroded the demand for HoloIMAGine technology, even though the firm retains several market power since competitors’

Q : Problem on price elasticity and total

A) Use the table below to draw graphs that show the relationship between price elasticity of demand and total revenue. <

Q : Controlling costs in the short run

Executives at the helms of monopolies that may pay little attention to controlling costs within the short run, but during the long run the monopoly will tend to be operated into a technically efficient fashion since: (w) the firm will

Q : Marginal revenue curve with marginal

LoCalLoCarbo has turn into the favorite of fad dieters. There in demonstrated figure curve A shows: (i) LoCalLoCarbo’s marginal cost curve. (ii) LoCalLoCarbo’s average variable cost curve. (iii) LoCalLoCarbo’s average total cost curve. (iv) the marke

Q : Natural barrier to entry in monopolizes

The Diamante Corporation is vast and owns the world’s merely red diamond mine. Thus diamante monopolizes the market for red diamonds, and this is protected by competition by a: (1) regulatory barrier to entry. (2) strategic barrier to entry. (3) natural barrier

Q : Margin requirements for deflationary gap

Elucidate the role of margin requirements for correcting deflationary gap.

Q : Determine produce economic profit When

When point e corresponds to $9,000 per RoboMaid, Robomatic can produce economic profit all month of at most around: (1) $25 million. (2) $40 million. (3) $55 million. (4) $70 million. (5) $85 million.

Discover Q & A

Leading Solution Library

Avail More Than 1412408 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1958843
Asked

3,689

Active Tutors

1412408

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment