Question

Mediocre economists often consider only the immediate apparent effects of a change, whereas a good economist will also consider effects that may only become observable over time." This statement most clearly emphasizes

Answer 1

the importance of secondary effects.

Step-by-step explanation:

A mediocre economists is concerned with the immediate effects of a policy, plan or any change, because his goals are generally limited to a short period of span.

He is not considered for long term plans. Also, generally a more experienced and senior expert economists are required to analyse the long term effects of any change, as requires more knowledge because of the criticality involved.

The immediate effects will be clearly visible with the change made, thus are primary in nature. But as the long term changes are not clearly visible immediately, but require expertise to forecast such changes are usually considered secondary.