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zhenek [66]
3 years ago
13

Tom strongly believes that raising tax rates for the rich is the only way to steer the economy out of recession, as it is likely

to generate greater tax revenues for the government. When his friend Sam pointed out that the government receives greater tax revenues when tax rates are uniformly low for all Americans, Tom refused to accept Sam's input and change his attitude. Interestingly, the input provided by Sam further strengthened Tom's initial attitude. This is an example of a:______________
Social Studies
1 answer:
Tomtit [17]3 years ago
8 0

Tom refused to accept Sam's input and change his attitude. Interestingly, the input provided by Sam further strengthened Tom's initial attitude. This is an example of a: <u>contrast effect</u>.

<u>Explanation</u>:

A contrast effect is the term used in psychology to explain the aggravation or decline, cognition or related performance as a result of consecutive or simultaneous exposure to a stimulus of lesser or greater value in the same dimension.

The type of contrast depends upon the how the participant considers a situation. There are two types of contrast effect. They are

i) Positive contrast effect

ii) Negative contrast effect

In the above scenario, Tom and Sam were discussing about the tax rates. Conflict arises between them when Sam objects Tom’s view on tax rates. Tom got aggravated and strengthened his attitude.

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Pls answer How does the description of the government's intervention in the Great Depression contribute to the development of id
V125BC [204]

Answer:

The Great Depression was caused by government intervention, above all a financial system controlled by America’s central bank, the Federal Reserve — & the interventionist policies of Hoover & FDR only made things worse.

The precise causes of the Great Depression remain a subject of debate, although, as economist Richard Timberlake observed n 2005, “Virtually all present-day economists... deny that a capitalist free-market economy n any way caused” it.

At the time, however, the free market was blamed, with much of the ire directed at bankers & speculators. Financiers were seen as having wrecked the economy through reckless speculation. President Hoover came to be viewed as a laissez-faire ideologue who did nothing while the economy fell deeper & deeper into depression, & Franklin D. Roosevelt’s interventionist policies under the New Deal were credited with rescuing us from disaster.

Americans came to conclude that the basic problem was the free market & the solution was government oversight & restraint of financiers & financial markets. It’s a view that the public, unaware of the consensus of modern economists, continues to embrace.

But the conventional story ignores the elephant n the room: the Federal Reserve. To place the blame for the Great Depression on a free financial system is like placing the blame for the fall of Rome on credit default swaps: you can’t fault something that didn’t exist. & by the time of the Great Depression, America’s financial system was controlled by the Fed.

It’s hard to overstate the importance of this fact. The Federal Reserve isn’t just any old government agency controlling any old industry. It controls the supply of money, & money plays a role n every economic transaction n the economy. If the government takes over the shoe industry, we might end up with nothing but Uggs & Crocs. But when the government messes with money, it can mess up the entire economy.

The two deadly monetary foes are inflation & deflation. We tend to think of inflation as generally rising prices & deflation as generally falling prices. But not all price inflation or price deflation is malignant — & not all price stability is benign. What matters is the relationship between the supply of money & the demand for money — between people’s desire to hold cash balances & the availability of cash.

Economic problems emerge when the supply of money does not match the demand for money, i.e., when there is what economists call monetary disequilibrium. Inflation, on this approach, refers to a situation where the supply of money is greater than the public’s demand to hold money balances at the current price level. Deflation refers to a situation where the supply of money is less than necessary to meet the public’s demand to hold money balances at the current price level.

N a free banking system, as George Selgin has argued, market forces work to keep inflation & deflation in check, i.e., there is a tendency toward monetary equilibrium. Not so when the government controls the money supply. Like all attempts at central planning, centrally planning an economy’s monetary system has to fail: a central bank has neither the knowledge nor the incentive to match the supply & demand for money. & so what we find when the government meddles n money are periods where the government creates far too much money (leading to price inflation or artificial booms & busts) or far too little money (leading to deflationary contractions).

& it turns out there are strong reasons to think that the Great Depression was mainly the result of the Federal Reserve making both mistakes.

The goal here is not to give a definitive, blow-by-blow account of the Depression. It’s to see in broad strokes the way in which government regulation was the sine qua non of the Depression. The free market didn’t fail: government intervention failed. The Great Depression doesn’t prove that the financial system needs regulation to ensure its stability — instead it reveals just how unstable the financial system can become when the government intervenes.

7 0
2 years ago
What are the main reasons for sociology to be a science ​
snow_tiger [21]
To test hypotheses, establish laws, and uncover causal relationships.
5 0
3 years ago
A sheet of paper is of dimensions 40 cm by 36 cm. From each corner of the sheet a square
Artyom0805 [142]
The area would be 40x36 x 2 x2 then subtract 4
3 0
3 years ago
Famed for his masterful use of irony, many of Guy de Maupassant's short stories have become classics due to the author slowly re
Dahasolnce [82]

Answer:

D- Many of Guy de Maupassant's short stories have become classics because of the author's famed and masterful use of irony, evidenced in the slow revelation of a tragic twist of fate at the end of each piece.

Explanation:

The original sentence begins with the modifier "Famed for his masterful use of irony,"  which requires a person as its subject. However, in the original sentence, "many of  Guy de Maupassant's short stories" is the subject. Moreover, the phrase "due to the  author slowly revealing" is awkward.

A. The opening verb-ed modifier “Famed for his…” is incorrectly modifying the subject of the preceding clause “many of Guy de Maupassant's short stories”.  Usage of “due to” is not correct here.

B. Many of Guy de Maupassant's short stories have become classics because of how he famously and masterfully uses irony, evident in the slow revelation of a tragic twist of fate at the end of each piece. Incorrect:

i. “because of” should be followed by a noun or clause beginning with noun.

C. Famed for using irony in a masterful way, many of Guy de Maupassant's short stories have become classics because of the author slowly revealing a tragic twist of fate at the end of each piece.: Incorrect. This choice repeats the modifier error of choice A.

D. Many of Guy de Maupassant's short stories have become classics because of the author's famed and masterful use of irony, evidenced in the slow revelation of a tragic twist of fate at the end of each piece. Correct.

E. Many of Guy de Maupassant's short stories have become classics because he slowly revealed a tragic twist of fate at the end of each piece, demonstrating his famed and masterful use of irony. Incorrect. . This choice repeats the same pronoun error of Choice B.

6 0
3 years ago
नेपालमा वन विनाशका कारणहरु ​
zloy xaker [14]

ईन्धन काठ र चाराको अत्यधिक फसल, ज fire्गलमा आगो, लपिंग र चरन, स्ल्याश र जलेको खेती, र काठको उत्खनन सामान्यतया वन फँडानी र वन क्षतिको लागि जिम्मेवार मानिन्छl

7 0
2 years ago
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