The so-called "death tax" might
A) aim to alter endowments so as to attain an inefficient outcome.
B) aim to alter endowments consistent with the First Theorem of Welfare Economics.
C) aim to alter endowments consistent with the Second Theorem of Welfare Economics.
D) aim to alter prices consistent with the First Theorem of Welfare Economics.
C
You might also like to view...
In economics, items that are used to produce goods and services are known as
A) wants. B) aggregates. C) factors of need. D) resources.
If the price level is increasing at 4% and output is increasing at 5%, then
A. Nominal GDP is increasing at 20%. B. Nominal GDP is increasing faster than real GDP. C. Real GDP is increasing faster than nominal GDP. D. None of the choices are correct.
Which of the following is included in the calculation of investment when measuring GDP?
A. changes in business inventories B. new home construction C. the purchase of new capital goods D. all of these
"If the price of wine increases, the quantity purchased will increase." Is this a positive or a normative economic statement? Explain your answer