When taxes and transfer payments are taken into account, the distribution of income in the United States:
A. Is unchanged
B. Is less equally distributed
C. Is more equally distributed
D. Becomes more beneficial for the wealthy
C. Is more equally distributed
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What are the two distinguishing characteristics of oligopoly?
What will be an ideal response?
A difference between moral hazard and adverse selection is that
a. moral hazard deals with pre-contractually determined public information b. moral hazard deals with post-contractually determined private information c. adverse selection deals with pre-contractually determined private information d. adverse selection deals with post-contractually determined public information
Games with a noncooperative equilibrium:
A. always result in a negative-negative outcome. B. always result in a positive-positive outcome. C. can result in either a positive-positive or negative-negative outcome. D. always result in a positive-negative outcome (zero-sum).
All taxes distort market decisions, affecting the buying and selling of goods and services
a. True b. False Indicate whether the statement is true or false