Which of the following statements is true?

A. Taxing the wealthy will lead to a more efficient economy.
B. Taxing the poor will lead to a more equal distribution of income.
C. A basic trade-off exists between the goals of equity and efficiency for a society.
D. The forces of supply and demand will automatically lead to an equitable distribution of income.


C. A basic trade-off exists between the goals of equity and efficiency for a society.

Economics

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Suppose Motorland's government imposes a tax of $1.50 per gallon of gasoline sold. With the tax, when the market is in equilibrium, the deadweight loss is

A) zero. B) $37,500 per month. C) $150,000 per month. D) $75,000 per month.

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The key to wealth building and personal freedom is found in obtaining a high paying job.

Indicate whether the statement is true or false.

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If e = 0.10, c = 0.20, and H = 440, the money supply at full multiplier expansion is

A) 4400. B) 1467. C) 1760. D) 1907. E) 1173.

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It does not make economic sense to maximize short run performance over long run performance

Indicate whether the statement is true or false

Economics