CLEAN : 2021 Nobel Economics winners "discovered that what we thought was right is wrong"

CLEAN : 2021 Nobel Economics winners "discovered that what we thought was right is wrong"

Assessment

Interactive Video

Economics, Social Studies, Business

11th Grade - University

Hard

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The video discusses the concept of natural experiments in economics, focusing on the impact of immigration and minimum wage on employment. It includes a personal anecdote about receiving recognition alongside colleagues. The speaker addresses the challenges posed by the pandemic, highlighting the unequal impact on different populations. The video reevaluates previous economic assumptions, finding that minimum wages and immigration may not harm employment as previously thought. It emphasizes the importance of providing insights for better policy decisions while maintaining political neutrality.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a natural experiment in the context of economics?

A theoretical model of economic behavior

A controlled laboratory experiment

A random survey of economic trends

A policy or event used to study economic effects

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the speaker's reaction to the news received in the middle of the night?

Indifferent and uninterested

Confused and skeptical

Annoyed and frustrated

Stunned and thrilled

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How has the pandemic impacted different parts of the population according to the speaker?

Negligible impact on the economy

Equally across all demographics

More severely in certain parts of the population

Only affecting the elderly

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What did the speaker discover about the impact of minimum wage on employment?

It is not particularly harmful at certain levels

It has no effect on employment

It always benefits employment

It significantly harms employment

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the effect of immigration on wages according to the new findings?

It increases wages for all workers

It has no impact on wages

It benefits many workers but affects close substitutes negatively

It drives down wages for all workers