Question
This week we learned 10 basic principles of economics. We also talked about Adam Smith's invisible hand. Make at least one example of an event
- This week we learned 10 basic principles of economics. We also talked about Adam Smith's invisible hand. Make at least one example of an event in history (or that is currently happening) in which the "invisible hand" did not work as it was intended to (please explain with at least a sentence). Do the same for an event in which Adam Smith's argument succeeded.
- "Laws that limit the resale of tickets for entertainment and sports events make potential audience members for those events worse off on average"
What do you think? If you agree, why do you say that? If you don't, make sure to back up your answer as well.
- 1. "Trade with China makes most Americans better off because, among other advantages, they can buy goods that are made or assembled more cheaply in China."
2. "Some Americans who work in the production of competing goods, such as clothing and furniture, are made worse off by trade with China."
What do you think? If you agree, why do you say that? If you don't, make sure to back up your answer as well.
- "Connecticut should pass its Senate Bill 60, which states that during a 'severe weather event emergency, no person within the chain of distribution of consumer goods and services shall sell or offer to sell consumer goods or services for a price that is unconscionably excessive.'"
What do you think? If you agree, why do you say that? If you don't, make sure to back up your answer as well.
- 1. "Local ordinances that limit rent increases for some rental housing units, such as in New York and San Francisco, have had a positive impact over the past three decades on the amount and quality of broadly affordable rental housing in cities that have used them."
2. "If the federal minimum wage is raised gradually to $15-per-hour by 2025, the employment rate for low-wage U.S. workers will be substantially lower than it would be under the status quo."
What do you think? If you agree, why do you say that? If you don't, make sure to back up your answer as well.
- "A market that allows payment for human kidneys should be established on a trial basis to help extend the lives of patients with kidney disease."
What do you think? If you agree, why do you say that? If you don't, make sure to back up your answer as well.
- "If regulators had not approved mergers in the past decade between major networked airlines, travelers would be better off today."
What do you think? If you agree, why do you say that? If you don't, make sure to back up your answer as well.
*Could someone please help me with these questions? Every bullet point is ONE question with ONE separate answer. All answers given I will NOT use as my own and only as an example*
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