Income redistribution:
a. reduces the reward for production behavior
b. encourages socially wasteful rent seeking
c. leads to higher tax rated
d. all of the above
Answer: d. all of the above
You might also like to view...
If the growth of the quantity of money is 5 percent per year, potential and real GDP grow at 3 percent per year, and velocity does not change, in the long run what is the inflation rate?
What will be an ideal response?
A country uses strategic trade policy to
A) increase profits that accrue to domestic producers. B) affect the exchange rate of its currency. C) impose countervailing duties. D) allow dumping of imports to increase consumer surplus.
Usually, a commercial bank's depositors and its owners are the same individuals
a. True b. False Indicate whether the statement is true or false
Gross domestic product refers to the: a. market value of all final goods and services produced in an economy during a year
b. market value of all goods and services produced by resources located outside the country. c. market value of all intermediate goods and services produced by resources located within the country. d. market value of all used goods exchanged within the country.