But on matters of rational deliberation, the value of an opinion is determined by the knowledge and evidence on which it is based. c. A budgetary referendum process where, Which of the following is true concerning contractionary fiscal policy? Which one of the following would be considered to be an expansionary fiscal policy? Californias original Stem Cell funding, which runs out this year, has already led to significant progress in the development of treatments and cures, including 92 FDAapproved clinical trials for chronic disease and injuries, over 2,900 medical discoveries, and demonstrated benefits for patients and research on chronic diseases including: Cancer, Diabetes, Heart Conditions, Blindness, HIV/AIDS, ALS, Children with Immune Deficiencies, Paralysis, and Kidney Disease. Grant Recipients Are Required to Share Invention-Related Income With the State. The objectives of this study were to . 11. -not favored by economists. A duty of economists at the Department of Labor is to, 45. Funded projects have involved conducting basic science research (such as laboratory research on stem cells), developing potential treatments, and undertaking clinical trials. Which of the following is true concerning expansionary fiscal policy? Choices impose costs; people receive benefits and incur costs when they make decisions. Higher federal taxes on consumer income b. Which of the following fiscal policy combinations would be most likely to slowly increase real GDP without putting tremendous upward pressure on the price level? If Steven's income decreases and, as a result, he chooses to buy fewer bagels per month at each price, then his demand curve will. The measure required that a small amount of interest be paid by funds from the bond sales. President Ronald Reagan once joked that a Trivial Pursuit game designed for economists would, 3. Funding research for new therapies and cures is from bonds, not a tax. Gift this article. B. An activity base may be used more than once, or not used at all. Bill has noticed that increases in unemployment insurance claims are associated with recessions, and therefore he advocates limits on unemployment insurance so as to prevent recessions. a. greater government expenditure and lower taxes b. greater government expenditure and higher taxes c. lower government expenditure and l, Supply-side economics: a. b. The United States should eliminate agricultural subsidies. b. Other common fund sources are industry contributions, private donations, and federal grants. The proposition allows CIRM to spend no more than 7.5 percent of bond funds on its administrative costs. The remaining 19,200 were units started and completed during October. Both economists agree that the bill would increase the after-tax income of the top 5% of income earners. To date, these inventions have provided of total of approximately $350,000 to the state. The proposition could result in numerous indirect effects on state and local governments. 6. The cost to repay the bonds authorized by this proposition depends on various factors, such as the interest rates on the bonds and the time period over which they are repaid. 49. a. the respondents were almost equally divided on the propositions. C) A minimum wage increases unemployment among young and unskilled . In a detailed response, explain your reasoning. 14 is endorsed by the University of California, NOBEL PRIZE WINNERS, leading patient and medical science advocates, and more than 70 PATIENT ADVOCATE ORGANIZATIONS, including: American Association for Cancer Research American Diabetes Association Leukemia & Lymphoma Society Juvenile Diabetes Research Foundation The Michael J. The United States National Institutes of Health (NIH) has partnered with Californias Stem Cell Funding Institute to advance therapies because of California's track record of success. 3. WHAT ARE THE DIFFERENT ARM CONTROL AGREEMENTS? 14. -favored by economists over taxes, but not over any other appr, Select all of the following that pertains to fiscal policy. Almost all economists agree that tariffs and import quotas. Which of the following is an example of a normative, as opposed to positive, statement? 2020-2023 Quizplus LLC. Adjust colonial claims 6. 2. When two variables have a negative correlation, 25. 26. d, Economists estimate that an increase in tax rates by 8% will _______ work by ________. With more people in the workforce than ever before and the global economy changing the needs of businesses in every industry those wishing to climb up the career ladder are faced with the frightening reality . You can specify conditions of storing and accessing cookies in your browser. c. the respondents disagreed with the propositions by a slight margin . c. making assumptions. A ceiling on rents reduces the quantity and quality of housing available. 14 will provide an Economic Job Recovery Stimulus. People respond to incentives in predictable ways. Do you agree or disagree with this statemen. c. China's Foreign Ministry published a 12-point position paper on Friday laying out how it thinks peace can be restored to Ukraine. g(w)=(w-5)\log_3w Initiative Statute. A decrease in government transfer payments. Policies such as rent control and trade barriers persist in spite of the fact that economists are virtually united in their opposition to such policies, probably because, 14. Researchers Use Stem Cells to Study and Treat Many Diseases. The gap between Social Security funds and expenditures will Contractionary fiscal policy, Supply side theorists claimed all of the following justifications for their theory, except: a. One way to characterize the difference between positive statements and normative statements is as follows: 11. Proposition 13 (officially named the People's Initiative to Limit Property Taxation) is an amendment of the Constitution of California enacted during 1978, by means of the initiative process. a. higher taxes b. increased government spending c. a balanced-budget reduction in both spending and taxes d. an expansion in the money supply, Which of the following would be considered a discretionary fiscal policy? [Read more about what's on this year's statewide ballot.] Which of the following is not one of those propositions? There was never a recommendation from the professional economists of the. | Cash receipts | | | | Helping to extend the banking system to the rural poor. INCREASES PATIENT ACCESS & AFFORDABILITY. Which of the following is NOT true about government policy: Expansionary policy tends to be more attractive to voters, as opposed to contractionary policy. 2. It's an obvious attemptafter spending billions on other prioritiesto mislead voters in the middle of this pandemic. The measure, which would put $5.5 billion . Past revenue collections, however, might not accurately predict future revenue. In the middle of an economic crisis, with soaring unemployment and budget shortfalls in the tens of billions of dollars, we dont have money to burn. The tax cut is passed by Parliament. Fiscal policy has a significant stimulative impact on a less than fully employed economy. The United States should withdraw from the North American Free . The Foundation for Teaching Economics Economic Reasoning Propositions are a guide to the economic way of thinking. 2. 14. 31. Hot Topics and lessons also utilize the E.R.P.s as a way to help students apply the economic way of thinking to the world around them. a. a tax increase on consumer income b. a surge in military spending c. a reduction in taxes for businesses that i. Dedicates "The Treatment and Cures Accessibility and Affordability Working Group" experts to dramatically expand access to clinical trials and new therapies, make treatments and cures more affordable for Californians, and provide patients, their families, and caregivers with financial assistance. (b) the supply side approach to fiscal policy. When two variables have a negative correlation. California Choices, an effort by Next 10, is designed to educate California voters by providing nonpartisan information on statewide ballot initiatives and local measures on the ballot. A tax increase on consumer income. The main result is an increased consensus on many economic propositions, specifically the appropriate role of fiscal policy in macroeconomics and issues surrounding income distribution. Stem cells are certain types of cells that exist within humans. The government should pass a Balanced Budget Amendment to the Constitution. b. b. 1/4 Often, it takes a long while until the innovation's value proposition is sufficiently understood. b. significant differences in education. Write in points., Definition of term meditation and lavender scent by authors, How health and safety legislation effects customer delivery, descibe three problem solving strategies that teenagers may apply to overcome obstacles that may hinder attainment of their academic goals. Supply-side economists argue cuts in tax rates a. always increase budget deficits. When two variables move in the same direction, the curve relating them is. Initiative Statute. The United States should withdraw from the North American Free Trade Agreement (NAFTA) is not one of those fourteen propositions agreed upon by three-fourths of professional economists. After "an extensive analysis" of spending by the State agency handing out billions in grants, the San Francisco Chronicle concluded: "The predicted financial windfall has not materialized." three-fourths of them agreed with fourteen economic propositions. Which offer a possible solution to Inflation? Among various other changes, the proposition also increases the number of members on CIRMs governing board from 29 to 35. Economists generally agree that the most important tax in the U.S. economy is the A) investment tax. 4. ESG=lower returns. Increased government spending b. When economists are trying to help improve the world, they are. A survey of professional economists revealed that more than three-fourths of them agreed with fourteen economic propositions. Which of the following is not correct? become unsustainably large within the next fifty years if current a. Understanding based on knowledge and evidence imparts value to opinions. California Choices | Telephone: 415 957 0202 | Email: info [at] californiachoices.org, 2022California Choices | Terms of Use | Privacy | Copyright | Sitemap, Bond to Fund Stem Cell Research Institute. As you can see from reading the ballot argument above, proponents are attempting to minimize the cost of this initiative. In trying to explain the world, economists are scientists; in trying to improve the world, they are policy advisers. C. The United States should implement universal health care for its citizens. mayoritaria, poco eficiente y slo existe por las subvenciones pblicas. 14. TOPICS: Economic thinking KEYWORDS: BLOOM'S: Comprehension CUSTOM ID: 011.02 - MC - MANK. c. property rights have to be enforced. Which of the following policies would you choose? A deterioration of the traditional 9-to-5 workforce has turned the job market into daily proof that Charles Darwins theory of the survival of the fittest extends to our professional lives. The Center for Society and Genetics in Berkeley has concluded that none of the flaws in the original stem cell initiative have been addressed in Prop. 4) always increase budget deficits. 15. C. Una parte del sector es minoritaria, eficiente y tiene pocas o ninguna subvencin pblica. A survey of professional economists revealed that more than three-fourths of them agreed with fourteen economic propositions. Local and state governments should eliminate subsidies to professional sports franchises. Economic Proposition is an example of a term used in the field of economics (Economics - ). a. Questions and Answers for [Solved] A survey of professional economists revealed that more than three-fourths of them agreed with a number of statements,including which of the following? The y-coordinate of an ordered pair specifies the, 12. 1. a. 8. Sometimes economists disagree because their scientific judgments differ. ANS: B DIF: 1 REF: 2-3 NAT: Analytic LOC: The study of economics and definitions of economics TOP: Economists MSC: Definitional 11. The President and Congress control the inter, Whether an economist argues in favor of a rise in government spending or a cut in taxes (as an expansionary fiscal policy measure) could have something to do with how he views the current size and scope of government in relationship to his optimal size an, Whether an economist argues in favor of a rise in government spending (as an expansionary fiscal policy measure) could have something to do with the degree of crowding out they expect as a result of the measure. The Michael J. Duties of the Council of Economic Advisers include, 40. b. Fiscal policy has a significant stimulative impact on a less than fully employed economy. a. a tax increase on consumer income b. a surge in military spending c. a reduction in taxes for businesses that inc, What are politicians more likely to prefer: expansionary fiscal policy or contractionary fiscal policy? Paying back Prop.14's costs of $7.8 billion could mean huge tax increasesat a time when our economy is on its knees. 10 A Survey Of Professional Economists Revealed That More Than Three-fourths Of Them Agreed With Fourteen Economic Propositions. Bundesrztekammer (2021) (Muster-)Berufsordnung fr die in Deutschland ttigen . Con relacin al sector agrario en Espaa, el manual afirma que tiene un marcado carcter dual. In order to display information on two variables, an economist must use, 8. PROP. Which of the following is not one of those propositions? The correct answer is C. The United States should implement universal health care for its citizens. REBUTTAL TO ARGUMENT IN FAVOR OF PROPOSITION 14. The measure also created the California Institute for Regenerative Medicine (CIRM), primarily for the purpose of providing grants to universities and other entities in California to support stem cell research, development of new treatments, clinical trials, new research facilities, and other related activities. Economic free trade on the seas during war and peace 3. A survey of professional economists revealed that more than three-fourths of them agreed with fourteen economic propositions. 47. a. A. As most economists say tax revenue would actually increase, would you agree to lower the corporate income tax to 26%? VOTE NO ON PROP. c. tax cuts during both recession and inflation. D. the Council of Economic Advisors, Which one of the following would represent an automatic stabilizer in an economy? 10. The Emergency Economic Stabilization Act of 2008, often called the "bank bailout of 2008", was proposed by Treasury Secretary Henry Paulson, passed by the 110th United States Congress, and signed into law by President George W. Bush.It became law as part of Public Law 110-343 on October 3, 2008, in the midst of the financial crisis of 2007-2008.It created the $700 billion Troubled Asset . Which of the following is an example of a positive, as opposed to normative, statement? Fiscal policy has a significant stimulative impact on a less An increase in governme, Which of the following policies best describes supply-side fiscal policy? 35. Which of the following is an example of a normative, as opposed to positive, statement? Hear from more patients at www.YESon14.com/successes, SUPPORTED BY OVER 70 PATIENT ADVOCATE ORGANIZATIONS. The proposition sets aside at least $1.5 billion specifically to research and develop treatments for diseases affecting the brain and central nervous system (such as Alzheimers disease and Parkinsons disease). Therefore, many doctors were chased away from villages, and some were even killed. The United States should not restrict employers from outsourcing work to foreign countries. Which of the following statements is correct about the roles of economists? a. There are no State bond payments during the first five years; and, supporting California's Stem Cell program will only cost the State an average of less than $5 per person annually. A survey of professional economists revealed that more than three-fourths of them agreed with fourteen economic propositions. |------------------------------------------|:--------:|:---:|:----:| The Laffer cur. Economists speaking like policy advisers make, 17. **1. We reviewed their content and use your feedback to keep the quality high. Incorporated on December 27, 1839, it is the 11th-most-populous city in the United States, the fourth-most-populous city in Texas, the second-most-populous state capital city, and the most populous state capital that is not . You know an economist has crossed the line from policy adviser to scientist when he or she, 22. a. An increase in government expenditures, c. Restrictive fiscal policy, d. An increase, Not all economists agree on what constitutes the optimal size and scope of government. Which one of the following is true? Think, for example, of electricity: it took around 100 years until it was understood as an economic good and at least as long to figure out how to use it as a value driver. The history of the lands that became the United States began with the arrival of the first people in the Americas around 15,000 BC. D. Una parte del sector se dirige a mercados urbanos especializados o a la exportacin. Scarcity necessitates choices: not all of our desires can be satisfied. | Credit purchases | 148,900 | 169,300 | 200,300 | | | April | May | June | For example, if the proposition were to result in new treatments, state and local government costs for some programs such as Medi-Cal, the states subsidized health care program for low-income people, could be affected. Do not believe in the mechanics of the Laffer Curve c. Desire reductions in income tax rates so that people are encou. ** Prepare the journal entry dated October 31 to transfer the cost of completed units to finished goods inventory. imposing higher personal income tax rates on people with higher incomes, Below are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2015: Assume that Ogden uses the FIFO method to account for its process costing system. The bonds primarily would fund additional grants to support research and the development of treatments (including clinical trials) for many diseases. The United States should withdraw from the North American Free Trade Agreement (NAFTA). b) To the extent that Congress relies on discretionary fiscal policy as a too. John Maynard Keynes believed the ideas of economists to be. 14 MEANS HIGHER TAXES, LAYOFFSOR BOTH, Read the nearby summary, which quotes the estimate by the nonpartisan Legislative Analyst: "State costs of $7.8 billion to pay off principal ($5.5 billion) and interest ($2.3 billion) on the bonds.". C)the respondents disagreed with the propositions by a slight margin. Correctd. Which of the following statements is correct about the roles of economists? a. Difficult to Estimate Invention-Related Income Available for Patients Treatment Costs. Can Keto help building muscle while fast track to shredded size? Contractionary fiscal policy is necessary to manipulate aggregate supply and maintain output. b. Increased government spending C. Lower taxes on research and development of new technology D. Higher taxes on household income E. More extensiv, Which of the following options is correct? A NO vote on this measure means: The state could not sell $5.5 billion in general obligation bonds primarily for stem cell research and the development of new medical treatments in California. They argue that the higher state costs associated with paying off the bond debt could increase pressure for higher taxes or lead to layoffs of state employees such as nurses and first responders. . With the AEA functioning as an intermediary in the dissemination of the survey, reminder e-mails went to A. 30. Evacuation of all Central Powers from Russia and allow it to define its own independence 7. |  Purchases | | | | Tariffs and import quotas usually reduce general economic welfare. d. Trade restric. c. The reserve requirement is lowered from 15% to 10%. A. atrophied brain ventricles. a. in the markets for factors of production exchanging labor for income. 1. ", Government in America: Elections and Updates Edition, George C. Edwards III, Martin P. Wattenberg, Robert L. Lineberry, For a major university, match each cost in the following table with the activity base most appropriate to it. |    Total cash disbursements | | | | C. hippocampal degeneration. As is typically the case with these kinds of bonds, the state has made most debt payments from the General Fundthe states main operating account, which pays for education, prisons, health care, and other public services. a) Keynesian economists do not support thi, Which of the following statements would "supply-side" economists disagree with? 46. C. lower taxes on household income. People choose, and individual choices are the source of social outcomes. D) labor tax. d. planned aggregate spending. A survey of professional economists revealed that more than three-fourths of them agreed with fourteen economic propositions. C. the Department of the Treasury. 14 builds on California's progress to date, helping to accelerate medical breakthroughs out of the lab and into clinical trials, where they can help improve and save patient lives." Linking all spending programs to visible tax hikes. Medical research is important. a. 14 are asking for. A ceiling on rents reduces the quantity and quality of housing available. a. Why? Proposition 14: Stem Cell Research. A. thinking at the margin B. isolating variables C. she's mak, Suppose that the economy is in the midst of a recession. Which one of the following macroeconomic policies is a Keynesian economist most likely to recommend as a means of stimulating recovery for an economy that has been in recession for several years? 18. the united states should eliminate agricultural subsidies. A survey of professional economists revealed that more than three-fourths of them agreed with fourteen economic propositions. As it nears the end of its funding, CIRM has been decreasing its staffing. propositions? (b) Describe two separate criticisms of supply-side policies. - Of the 22,200 units completed, 3,000 were from beginning goods in process. | Cash disbursements | | | | Economics from differing schools of thought usually have conflicting ideas on economic propositions, principals, and therefore differ on how to handle policy and decision making. A survey of professional economists revealed that more than three-fourths of them agreed with fourteen economic propositions. three-fourths of them agreed with fourteen economic propositions. Answers: a. markets sometimes fail to produce a fair distribution of economic well-being. Which of the following is not correct? b. reviewing statistical forecasts. (The institute would be allowed up to 70 full-time employees for other operational purposes.) Which of the following is not one of those propositions? The Little Hoover Commission branded Robert Klein, the former chairman of the agencys board, "a lightning rod for calls for more accountability.". $4$. This history demonstrates Prop. Which of the following instances best reflects this source of disagreement? The focus in the 1976 and 1990 surveys was on . Almost all economists agree that rent control, 13. A large federal budget deficit has an adverse effect on the economy. d. prescriptive, making a claim about how the world ought to be. Graphs such as bar graphs and pie charts are limited in that they, 4. A congressional proposal to incur a federal surplus to be used for the retirement of public debt. Click here to create an account and save your votes. Economists at the Department of the Treasury, 42. B) A large federal budget deficit has an adverse effect on the economy. Laws, customs, moral principles, superstitions, and cultural values influence peoples choices. Reductions in income tax rates have created greater in, Which of the following statements best represents the opinion of many economists regarding the impact that changes in tax laws have had on recent changes in income inequality in the United States? b. markets sometimes fail to produce an efficient allocation of resources. 33. d. rational exp. $$ b. An economy's production of two goods is efficient if. The United States should eliminate agricultural subsidies. 39. 12. Which of the following is not one of those propositions? 36. b. have no effect on tax revenues. In the case of efficiency, discuss the type of market failure involved. 49 paper Faizi Online Academy 03098705664 Index => 49 paper Faizi Online Academy 03. 3) may increase tax revenues. He had already roughed out the concept of the Fourteen Points to Congress and the American people months before the armistice. b. Inherently a Keynesian idea. As you can see from reading the ballot argument above, proponents are attempting to minimize the cost of this initiative. Or laying off thousands of nurses and other heroes who do the real work of keeping California healthy. |  Interest | 12,580 | 12,580 | 12,580 | B)the respondents favored the propositions by a slight margin. "If all economists were laid end to end, they would not reach a conclusion." y=5x+7; y=12, -3\leq{x}\leq1 Increase government spending with a matching decrease in taxes. a. a. a $40 billion increase in taxes b. a $10 billion increase in taxes and a $30 billion cut in government spending c. a $20 billion increase in taxes and a $20 billion cut in g, Economist A believes that a reduction in tax rates will lead to increased tax revenue, and economist B believes that a reduction in tax rates will not lead to increased tax revenue. Home Teachers Teacher Resources Economic Reasoning Propositions. b. the respondents favored the propositions by a slight margin. How did the influential economist John Maynard Keynes explain his remark that although economics is an easy subject compared with the higher branches of philosophy or pure science, it is a subject at which few excel? Tax changes cause shifts in aggregate supply that work against shifts in aggregate demand, thus reducing the effect of the tax change on real GDP. A tax reduction can be used as an expansionary fiscal policy tool to expand the economy. John Maynard Keynes believed the ideas of economists to be. The initiative was approved by California voters on June 6, 1978. A contractionary monetary policy b. Total Estimated State Costs of $7.8 Billion. A survey which sought the opinion of professional economists on fourteen propositions about economic policy found that. Which of the following is not one of those propositions? CalMatters. 29. a. decrease; 15% b. increase; 15% c. decrease; 1% d. increase; 1% Economists generally believe that tax cre, When the economy is in a recession, expansionary fiscal policy can be used to stimulate and encourage economic growth.