What are two ways that raising taxes on the rich can harm society?
What will be an ideal response?
If raising taxes on the rich would cause the rich to stop doing things that generate high amounts of income, this may cause harm to society.
If raising taxes on the rich cause the rich to locate to different countries with lower tax rates and, in turn, generate high amounts of income in these other countries instead of in their original country, this can harm society.
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A player chooses a ________ strategy to maximize the minimum gain the player can earn.
A. tit-for-tat B. Cournot C. maximin D. prisoners' dilemma
Lectures in microeconomics can be delivered either by an instructor (labor) or a movie (capital) or any combination of both. Yet the it gets harder and harder to substitute more movies for an instructor the more movies are already used
Which graph in the above figure best represents the isoquants for lectures in microeconomics when Capital per day is on the vertical axis and Labor per day is on the horizontal axis? A) Graph A B) Graph B C) Graph C D) Graph D
A profit-maximizing firm will hire additional units of labor until
A) the additional cost of hiring the last worker equals the additional revenue generated by that worker. B) the additional cost of hiring the last worker equals the marginal factor cost of the worker. C) the extra revenue from hiring the last worker equals the marginal physical product of labor. D) the extra cost from hiring the last worker equals the cost of the product.
A flow is a measure defined:
A. in nominal terms. B. in real terms. C. at a point in time. D. per unit of time.