Among various other changes, the proposition also increases the number of members on CIRMs governing board from 29 to 35. The nation's antitrust laws are enforced by economists at the Department of. 34. Do you agree or disag, Which of the following results can be attributed to a sound fiscal policy? A contractionary fiscal policy. a. c. Increasing T and decreasing G in an overheated economy. A survey of professional economists revealed that more than three-fourths of them agreed with fourteen economic propositions. Which of the following policies would be most consistent with fiscal policy? 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." These basic institutions controlling behavior set out and establish the incentive structure and the basic design of the economic system. 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. The European colonization of the Americas began in the late 15th century, however most . When two variables move in the same direction, the curve relating them is. a. Do you believe that a tax increase on the rich will hurt the economy? Justify your answer. California funding is essential; funding from Washington, DC is unpredictable and unreliable. Economists generally agree that the most important tax in the U.S. economy is the A) investment tax. 14 provides continued funding to develop treatments, advance clinical trials and achieve new scientific breakthroughs for Californias patients with Cancer, Diabetes, Heart Disease, Alzheimers, Parkinsons, HIV/AIDS, ALS, MS, Sickle Cell Disease, Lung Diseases, Kidney Disease, Bubble Baby Disease, AgeRelated Blindness and Genetic Blindness, Epilepsy, Stroke, Schizophrenia, Autism, other Mental Health and Brain Conditions, and Infectious Diseases like COVID19. 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: The state sold the bonds to investors, and the money generated from these sales funded CIRM grants and operations. CalMatters. You are asked to recommend a policy to promote long-term economic growth in the economy. 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. Proposition 14 allows the state to sell $5.5 billion in general obligation bonds. Fiscal policy has a significant stimulative impact on a less than fully employed economy. |  Interest | 12,580 | 12,580 | 12,580 | John Maynard Keynes believed the ideas of economists to be. Fiscal policy has a significant stimulative impact on a less than fully employed economy. As of June 2020, CIRM had spent most of its Proposition 71 funds. IT COULD SAVE YOUR LIFE OR THE LIFE OF SOMEONE YOU LOVE. c. b. the money supply. Give an example, references and an assumption. Which of the following isnotone of those propositions?a. When an economist evaluates a positive statement, he or she is primarily. c. differences in personal values. Which of the following statements is correct about the roles of economists? b. Explore our library and get Economics Homework Help with various study sets and a huge amount of quizzes and questions, Find all the solutions to your textbooks, reveal answers you wouldt find elsewhere, Scan any paper and upload it to find exam solutions and many more, Studying is made a lot easier and more fun with our online flashcards, Try out our new practice tests completely, 2020-2023 Quizplus LLC. Economists speaking like policy advisers make, 17. Group of answer choices: a. b. Get access to this video and our entire Q&A library, What is Economics? b. A. A balanced-budget amendment stipulating that Congress cannot spend more than total tax revenues. Private investors and companies, including many in California, have made great strides in using stem cells to cure diseasesusing private funds, not tax dollars. Thinking Like an Economist379. a. Decreasing T and increasing G in a recession. School supplies\ The measure, which would put $5.5 billion . |  Cash collections from credit sales | | | | c. Can Keto help building muscle while fast track to shredded size? Opinions matter and are of equal value at the ballot box. The gap between Social Security funds and expenditures will become . Multiple Choice . d. conducting controlled experiments in a lab. Explain the recent proposals of an explicit balanced budget amendment in relation with PAYGO. reduces general economic welfare. Fiscal Impact: Would increase state costs to repay bonds, estimated at about $260 million per year over the next 30 years for a total estimated cost of $7.8 billion including interest. A YES vote on Prop. Which of the following is not one of those propositions? Other common fund sources are industry contributions, private donations, and federal grants. Makes Numerous Changes to CIRM. Higher taxes c. A balanced-budget reduction in both spending and taxes d. An expansion in the money sup, The economy is in a recession. b. tax increases during recession and tax cuts during inflation. A) Tariffs and import quotas usually reduce general economic welfare. The proposal is unlikely to find much favor . The summarized Fourteen Points included: Open covenants of peace and transparent diplomacy. 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. ENSURES STRICT ACCOUNTABILITY & TRANSPARENCY. Further, any invention-related revenue that is deposited into the General Fund would be used to help pay for patients regenerative medicine treatments. $1$. 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 "yes" vote supported issuing $5.5 billion in general obligation bonds for . c. The reserve requirement is lowered from 15% to 10%. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. for it. $5$. Past revenue collections, however, might not accurately predict future revenue. 49 paper Faizi Online Academy 03098705664 Index => 49 paper Faizi Online Academy 03. Supply-side economists argue cuts in tax rates 1) always reduce tax revenues. Proposition 14 allows the state to sell $5.5 billion in general obligation bonds. 37. Do you agree or disagree? a. generating data. Using this information, complete the following cash budget: The Michael J. c. tax cuts during both recession and inflation. The first number in any ordered pair is, 11. 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. VOTE NO ON PROP. A survey of professional economists revealed that more than 17. B. (b) Describe two separate criticisms of supply-side policies. Prop. As it nears the end of its funding, CIRM has been decreasing its staffing. 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? a. - $100 billion increase in taxation - $100 billion decrease in taxation - $100 billion increase in government spending - $100 billion decrease. E. a tax credit on cap. Tariffs and import quotas usually reduce general economic welfare. Answer: Unlock to view answer. Someone advocates using fiscal policy to stimulate the economy and reduce unemployment. The following additional information is available: The proposition sets aside at least $1.5 billion specifically to research and develop treatments for diseases . $3$. 8. 2020-2023 Quizplus LLC. Fiscal policy has a significant stimulative impact on a less than fully employed economy. They voted to REJECT worker's rights in the gig economy. The proposition could result in numerous indirect effects on state and local governments. A. housing available. As you can see from reading the ballot argument above, proponents are attempting to minimize the cost of this initiative. B. Recently, the Trump administration argued that government can raise more tax revenue by reducing the marginal tax rate. And that's on top of the nearly $3 billion this troubled state agency has spent over the past 15 yearswith poor results. A Keynesian economist would favor which of the following if she wished for a lower unemployment rate? What are politicians more likely to prefer: expansionary fiscal policy or contractionary fiscal policy? Economists reach agreement that the economy is moving into a recession. Establishes Certain Rules Relating to the Bonds. A)The United States should not restrict employers from outsourcing work to foreign countries.B)The United States should withdraw from the North American Free Trade Agreement (NAFTA).C)The United States should eliminate agricultural subsidies.D)Local and state governments should eliminate subsidies to professional sports franchises. Evacuation of all Central Powers from Russia and allow it to define its own independence 7. Supply-side economists argue cuts in tax rates a. always increase budget deficits. Other Possible Fiscal Effects. You know an economist has crossed the line from scientist to policy adviser when he or she, 23. RT @SFOF_States: BREAKING: #ESG is a losing proposition for investors, pensioners and retirees. The amount of revenue from new inventions that would be available to the state for helping to cover costs for patients regenerative medicine treatments is uncertain. PROP. ** Prepare the companys process cost summary for October using FIFO. Economists now embrace the role of fiscal policy in a way not obvious in previous surveys and are largely supportive of government policies that mitigate income . Consumption spending b, Which of the following policies will definitely increase the budget deficit while achieving greater fiscal stimulus? This history demonstrates Prop. In trying to explain the world, economists are scientists; in trying to improve the world, they are policy advisers. copyright 2003-2023 Homework.Study.com. 29. d. The United States should withdraw from the North American Free Trade Agreement (NAFTA). Which of the following might this person advocate to implement the fiscal policy? Measure Allowed State to Issue General Obligation Bonds. This may not be resold, copied, or distributed without the prior consent of the publisher. The United States should eliminate agricultural subsidies. b. 1. A. "If all economists were laid end to end, they would not reach a conclusion." The proposition directs CIRM to allocate a small share of grant funding for training opportunities for students at the California State University and the California Community Colleges, as well as a small share for helping to establish and support facilities focused on research and clinical trials. The United States should eliminate agricultural subsidies.d. Equal trade conditions 4. $100 billion decrease in taxation C. $100 billion increase in government spending D. $100 billion decrease, According to traditional Keynesian analysis, which of the following will increase aggregate demand the most? a. | Credit purchases | 148,900 | 169,300 | 200,300 | Give the pros and cons of your stance. a. increased government spending b. a balanced-budget reduction in both spending and taxes c. an expansion in the money supply d. higher taxes, According to traditional Keynesian analysis, which of the following will increase aggregate demand the most? A survey of professional economists revealed that more than three-fourths of them agreed with fourteen economic propositions. A duty of economists at the Department of Labor is to, 45. Proposition 14 would authorize $5.5 billion general obligation bonds for the state's stem cell research institute and making changes to the . 10 A Survey Of Professional Economists Revealed That More Than Three-fourths Of Them Agreed With Fourteen Economic Propositions. BUILDING ON CONTINUING SUCCESS: 92 FDAAPPROVED CLINICAL TRIALS / 2,900 MEDICAL DISCOVERIES TO DATE. https://edition.cnn.com/2020/11 . d. increases i, The composite index of leading indicators turns downward for three consecutive months. These propositions suggest, support, and clarify each other. 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 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. A ceiling on rents reduces the quantity and quality of housing available. A survey which sought the opinion of professional economists on fourteen propositions about economic policy found that a. the respondents were almost equally divided on the propositions. A large federal budget deficit has an adverse effect on the economy. Unemployment in California is over 12%. A surge in military spendin, Evaluate each of the following proposals in terms of reform: a. Which of the following is not one of those propositions? 3. VOTE YES ON 14. Average cost to State equals less than $5 per person annually, with no state payments until 2026, the 6th year of California's economic recovery. 32. Assumption is that the economy self-corrects. Proponents are making empty promises about revenues and jobs. Congress relies on economists at the Congressional Budget Office to, 51. REBUTTAL TO ARGUMENT IN FAVOR OF PROPOSITION 14. $$. 12. Multiple Choice . a. greater government expenditure and lower taxes b. greater government expenditure and higher taxes c. lower government expenditure and l, Supply-side economics: a. 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? A. Visit Ballotpedia for summary data from recent polls and links to the complete published polls. The objectives of this study were to . a. Adriana Padilla, Fresno. c. b. the respondents favored the propositions by a slight margin. b. 10. Which of the following will a Keynesian most likely favor if the economy is operating at point a? Despite the importance of the logistics sector to the South African economy and the significant negative impact of the sector on South African society, little research has been conducted to determine the extent to which South African logistics companies report their social sustainability and the effectiveness of their social sustainability reporting. Experts are tested by Chegg as specialists in their subject area. **1. If the economy is in a recession and prices are relatively stable, then the discretionary fiscal policy or policies that would most likely be recommended to. - Beginning goods in process consisted of 3,000 units that were 100% complete with respect to direct materials and 40% complete with respect to direct labor and overhead. | | April | May | June | A tax cut, b. Instead, the state would make remaining debt payments from the General Fund. The Little Hoover Commission branded Robert Klein, the former chairman of the agencys board, "a lightning rod for calls for more accountability.". You know an economist has crossed the line from policy adviser to scientist when he or she, 22. Suppose that someone makes the argument that because empty alcohol containers are found at many accidents, the containers cause accidents. d. a reliance on normative statement for research theories. Which of the following is an example of a positive, as opposed to normative, statement? |  Interest | | | | The bonds primarily would fund additional grants to support research and the development of treatments (including clinical trials) for many diseases. However, there are also some theories and propositions within the economics discipline that nearly all economists agree on.