Suppose that Eric, an economist from a business school in Georgia, and Ginny, an economist from a public television program, are arguing over budget deficits. The following dialogue shows an excerpt from their debate Ginny: Most people recognize that the budget deficit has been rising considerably over the last century. We need to find the best course of action to remedy this situation.
Eric: I believe that a cut in income tax rates would boost economic growth and raise tax revenue enough to reduce budget deficits.
Ginny: I actually feel that raising the top income tax rate would reduce the budget deficit more effectively.
The disagreement between these economists is most likely due to .
A. differences in scientific judgments
B. differences between perception versus reality
C. differences in values
Despite their differences, with which proposition are two economists chosen at random most likely to agree?
A. Minimum wage laws do more to harm low-skilled workers than help them.
B. Lawyers make up an excessive percentage of elected officials.
C. Tariffs and import quotas generally reduce economic welfare.