--%>
Assignment Help - homework help

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.

   Related Questions in Microeconomics

  • Q : LEAST affected market interest rate

    Market interest rates are LEAST affected through: (w) people’s willingness to defer consumption when they are rewarded for doing so. (x) people’s desires for liquidity. (y) the marginal productivity of new capital relative to its price. (z

    		•
  • Q : Words of Henry George about Economic

    Henry George believed that: (1) landowners deserve the economic rent that their land holdings provide. (2) a single tax on land equal to the unearned surplus would pay for all needed government. (3) economic inefficiency would result from a tax on the

    		•
  • Q : Law of Equal Marginal Advantage I have

    I have a problem in economics on Law of Equal Marginal Advantage. Please help me in the following question. The very last cents spent on each and every good should give up equivalent subjective profits according to the principle of: (i) Subjective pre

    		•
  • Q : Charting of past prices Can the

    Can the charting of past prices be used to predict future prices?

    		•
  • Q : Define equilibrium price Equilibrium

    Equilibrium price: The Equilibrium price refers to a price at which the market demand and market supply are equivalent.

    		•
  • Q : Example of price elasticity of demand

    At P = $100, there 50 tons of Garden-Rich fertilizer are demanded within Patagonia; at P = $80, there quantity demanded is 70 tons. Therefore price elasticity of demand for fertilizer: (w) 5/8. (x) 3/2. (y) 4/5. (z) 2/3.

  • Q : Lacking of competition-product market

    Can someone help me in finding out the right answer from the given options? The lack of competition in the product market outcomes in: (p) Less labor being appointed than if the markets were competitive. (q) More labor being hired than if the markets were competitive.

    		•
  • Q : Higher interest rate in saving and

    A higher interest rate shows a: (w) stronger preference for current income over future income. (x) weaker preference for current income over future income. (y) stronger preference for future income over current income. (z) wave of pessimism among inve

    		•
  • Q : Movement according to economist Assume

    Assume that you purchased a ton of gold in Belgium for $450 per ounce and instantly sold all of it in Chile for $480 per ounce. Economists label your movement as: (i) Arbitrage. (ii) Scalping. (iii) Screening. (iv) Speculation. (v) Signaling.

    Q : Question based on type of economy An

    An industry comprised of a small number of firms, each of which considers the potential reactions of its rivals in making price-output decisions is called: A) monopolistic competition.  B) oligopoly.  C) pure monopoly.  D) pure competition.

    		•