This is a follow-up to the surveys of economic opinion published in the AER twice and, most recently, the Journal of Economic Education. I have a suggestion for future surveys. Instead of three answer categories, mostly agree, agree with provisions and mostly disagree, the survey should include Likert scale answer categories such as strongly agree, somewhat agree, neither agree nor disagree, somewhat disagree and strongly disagree. I didn't have an answer for many of the statements (i.e., macro) so I answered the middle category which forced me into agreeing. I didn't want to skip the question for fear that the researchers would drop respondents with item non-response.
Posted in Research
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Hmmm…”If the federal budget is to be balanced, it should be done over the course of the business cycle rather than yearly.”
Now, in the real world, with real world politicians (“Suppose you were an idiot and suppose you were a member of Congress. But I repeat myself.” –Mark Twain), how could one conceivably even define “over the course of the business cycle”?? No, they’d always be in the borrowing-and-squandering phase, just like always.
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