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Why do economists emphasize efficiency as an important goal of public policy?
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Some economists believe fiscal policy and monetary policy do not work very well.?
True
How can politics complicate fiscal policy?
Politicians, and the constituents they claim to represent, often have different policy objectives than economic efficiency. That is, while economists often can and have established models for optimal fiscal policies, their end goals differ from those of politicians, so policy is complicated because groups with different desired outcomes must reach a compromise policy.
What do government economists focus on?
Government economists work for federal, state, and local governments in a wide variety of positions involving analysis and policy making.
What is efficiency is it the only goal of economic policy makers?
Efficiency is when a market that is guided by the invisible hand is able to capture all of the possible consumer and producer surplus. When all surplus is realized it is then that we can say a market is efficient. However, efficiency is not the only goal of an economic policy maker. Policy makers are equally as concerned about equality. The benefits in the market from trade can be viewed as a pie. Efficiency determines the size of that pie while equality equates to how the pie is sliced.
What are two reasons why economists have a reputation for giving conflicting advice to policymakers?
Economists often give conflicting advice to policy makers for two basic reasons: 1) economists may disagree about the validity of alternative positive theories about how the world works and/or 2) economists may have different values and therefore different normative views about what policy should try to accomplish
What has the author A G Pool written?
A. G. Pool has written: 'Economists and social policy' -- subject(s): Economists
Some economists believe fiscal policy and monetary policy do not work very well.?
True
What has the author Christopher Leman written?
Christopher Leman has written: 'Ten commandments for policy economists' -- subject(s): Government economists
How can politics complicate fiscal policy?
Politicians, and the constituents they claim to represent, often have different policy objectives than economic efficiency. That is, while economists often can and have established models for optimal fiscal policies, their end goals differ from those of politicians, so policy is complicated because groups with different desired outcomes must reach a compromise policy.
What do government economists focus on?
Government economists work for federal, state, and local governments in a wide variety of positions involving analysis and policy making.
Congress relies on economists at the congressional budget office to?
provide independent evaluations of policy proposals
What do business economists do?
Business economists perform such tasks as forecasting the business environment, interpreting the impact of public/governmental policy on the firm, and collecting and processing data. They also supply information to management that affects decisions
What has the author Wolfram Hoppenstedt written?
Wolfram Hoppenstedt has written: 'Gerhard Colm' -- subject(s): Economic policy, Economists, Biography
What are perks of being an economist?
Economists typically enjoy job stability and competitive salaries. They have the opportunity to have a deep understanding of how economies function and influence policy decisions. Additionally, economists often have the chance to work across various industries and sectors.
What is efficiency is it the only goal of economic policy makers?
Efficiency is when a market that is guided by the invisible hand is able to capture all of the possible consumer and producer surplus. When all surplus is realized it is then that we can say a market is efficient. However, efficiency is not the only goal of an economic policy maker. Policy makers are equally as concerned about equality. The benefits in the market from trade can be viewed as a pie. Efficiency determines the size of that pie while equality equates to how the pie is sliced.
Whos work is most modern fiscal policys based on?
Modern fiscal policy is based on the work of prominent economists such as John Maynard Keynes, who advocated for government intervention in the economy to promote growth and stability through fiscal measures like government spending and taxation. Other influential economists in shaping modern fiscal policy include Milton Friedman, who focused on the importance of monetary policy in stabilizing the economy.
What has the author A W Coats written?
A. W. Coats has written: 'The classical economists and economic policy' -- subject(s): Economic policy, Economics, Free enterprise, History, Laissez-faire 'Methodological Controversy in Economics: Historical Essays in Honor of T.W. Hutchison' 'The sociology and professionalization of economics' -- subject(s): Economics, Government economists, History, Sociological aspects, Sociological aspects of Economics 'Economic ideas for economic historians' 'Economists in International Agencies' 'Debates In Economic History'
