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Suppose that Manuel, an economist from a college in Pennsylvania, and Poornima, another economist from a graduate program in the Northeast, are both guests on a popular science podcast. The host of the podcast is facilitating their debate over government intervention. The following dialogue represents a portion of the transcript of their discussion: Poornima: The usefulness of government intervention in the economy is a long-standing issue that economists continue to debate. Manuel: I feel that government involvement in the economy should be reduced because government programs cause more harm than good. Poornima: While I do agree that government programs can be inefficient, I really think they are necessary to help the less fortunate.

Suppose that Manuel, an economist from a college in Pennsylvania, and Poornima, another economist from a graduate program in the Northeast, are both guests on a popular science podcast. The host of the podcast is facilitating their debate over government intervention. The following dialogue represents a portion of the transcript of their discussion: Poornima: The usefulness of government intervention in the economy is a long-standing issue that economists continue to debate. Manuel: I feel that government involvement in the economy should be reduced because government programs cause more harm than good. Poornima: While I do agree that government programs can be inefficient, I really think they are necessary to help the less fortunate.

Microeconomic Theory
Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter13: General Equilibrium And Welfare
Section: Chapter Questions
Problem 13.8P
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Suppose that Manuel, an economist from a college in Pennsylvania, and Poornima, another economist from a graduate program in the Northeast, are both guests on a popular science podcast. The host of the podcast is facilitating their debate over government intervention. The following dialogue represents a portion of the transcript of their discussion: Poornima: The usefulness of government intervention in the economy is a long-standing issue that economists continue to debate. Manuel: I feel that government involvement in the economy should be reduced because government programs cause more harm than good. Poornima: While I do agree that government programs can be inefficient, I really think they are necessary to help the less fortunate.
Transcribed Image Text:Suppose that Manuel, an economist from a college in Pennsylvania, and Poornima, another economist from a graduate program in the Northeast, are both guests on a popular science podcast. The host of the podcast is facilitating their debate over government intervention. The following dialogue represents a portion of the transcript of their discussion: Poornima: The usefulness of government intervention in the economy is a long-standing issue that economists continue to debate. Manuel: I feel that government involvement in the economy should be reduced because government programs cause more harm than good. Poornima: While I do agree that government programs can be inefficient, I really think they are necessary to help the less fortunate.
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