Krugman: Biden Needs Smart Policy on China

The video covers various economic topics, including the potential for inflation due to economic recovery, the complexities of US-China trade relations, the ongoing debate about the effects of minimum wage increases on employment, and the arguments for and against student debt forgiveness. The speaker emphasizes the importance of smart policy decisions in these areas.

What analogy is used to describe the economic situation and its challenges?

• A sports game

• A war

• A marathon

• A puzzle

What is the main concern regarding inflation in the current economic scenario?

• Overheating

• Recession

• Deflation

• Stagnation

What is the current stance of the Biden administration on tariffs with China?

• Immediate removal

• Gradual increase

• Complete elimination

• Maintain current tariffs

What are the real issues in the US-China trade relations according to the discussion?

• Tourism restrictions

• Currency manipulation

• Agricultural exports

• Chinese industrial policy and intellectual property

What does the recent study from the National Bureau of Economic Research suggest about minimum wage effects?

• Minor negative effects

• No effects

• Significant negative effects

• Positive effects

What is a common misconception about student debt according to the discussion?

• Debt is only for international students

• Debt is easily repayable

• Debt is only for vocational training

• Most debt is from elite schools

What is the position of the speaker on student debt forgiveness?

• Supportive of minor relief

• Neutral on the issue

• Supportive of substantial relief

• Opposed to any forgiveness