In general, the optimal taxation literature finds that a society can maximize social welfare through income redistribution
a. True b. False
a
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The U.S. Constitution
A. prohibits tariffs on trade between Arkansas and New York but allows tariffs on trade between Hawaii and Alaska. B. prohibits tariffs on all trade. C. allows tariffs on trade with other countries, but not on trade between the states. D. allows tariffs only on goods purchased from the communist nations.
Adverse selection occurs when those ________ likely to get ________ insurance payoffs are the ones who want to purchase insurance the most
A) least; large B) least; small C) most; large D) most; small
If you see that a firm's marginal revenue curve is downward sloping, you can infer that it is a
A. price maker. B. zero price setter. C. price setter. D. price taker.
In the long run, persistent inflation in the United States is caused by
A. rightward shifts in the long-run aggregate supply curve and the leftward shift of the aggregate demand curve. B. a faster rightward shift of the aggregate demand curve than the rightward shift of the long-run aggregate supply curve. C. leftward shifts in both the long-run aggregate supply curve and in the aggregate demand curve. D. leftward shifts in the aggregate demand curve while the position of the long-run supply curve is unchanged.