An interesting book that I read, a postulate towards several deduction. They are:
Microeconomics Propositions
- Pollution taxes or marketable pollution permits are a more economically efficient approach to pollution control than emission standards (93% agreeing);
- Tariff and import quotas usually reduce general economic welfare (93%);
- A ceiling on rents reduce the quantity and quality of housing available (93%);
- Cash payments increase the welfare of recipients to a greater degree than do transfers-in-kind of equal dollar value (84%);
- The social security payroll tax is borne almost entirely by workers, not their employers (83%);
- Economic evidence suggests that there are too many resources in American agriculture (73%);
Macroeconomics propositions
- An economy in short-run equilibrium at a real GNP below potential GNP has a self-correcting mechanism that will eventually return it to potential real GNP (60%);
- In the short run, a reduction in unemployment causes the inflation rate to increase (48%);
- The Federal Reserve should increase the money supply at a fixed rate (44%);
- The major source of macroeconomics disturbances is supply-side shocks (40%);
Huh? Surprising right?
I am also intrigued of the agreed and disagreement to resolve the financial difficulties.
