Question

1. One argument against government intervention is if society wishes a ________ level of economic output...

1. One argument against government intervention is if society wishes a ________ level of economic output it must also accept a ________ degree of inequality.

A. high; low

B. low; high

C. high; high

2. A likely outcome from taxing the rich at a high percentage in order to ________ income, would be discouraged entrepreneurship and work.

A. level

B. smooth earnings or

C. redistribute

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

1

High level of output

High degree of inequality

Explanation:

When government intervene in an project the main objective of the government is to promote equality which in turn in most cases converted into a case where inefficient amount of output is produced, the output might be higher if it were given to some private entity.

On the other hand if if it were given to some private entity then obviously higher amount of output would have been produced but there were chances of inequality.

Hence if society wants higher amount of output then it has to accept high degree of inequality.

2

Redistribute

Explanation:

The aim of imposing higher rate of tax to the rich people is to distribute the income in the society. People who earn more should pay higher taxes in order to redistribute the income among all of the members of the society.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1. When should the government intervene in society? Once we have chosen the path of intervention...
1. When should the government intervene in society? Once we have chosen the path of intervention what options/factors need to be considered? How have opinions evolved over time? How might interventions differ between various levels of government (local/state/federal)? 2. People often call America the “Land of the Free”. Describe, with the theoretical tools we have discussed, how our market-based system contributes to that moniker. People have also contended that America is a country where some are systematically disadvantaged. Why might...
31.   An increase in government spending of $200 million financed by a new tax of $200...
31.   An increase in government spending of $200 million financed by a new tax of $200 million in an economy with a marginal propensity to consume of .90 could result in an increase in nominal GDP (assuming a closed economy with no taxes or leakages) of up to how much? (a) $0; (b) $2,000 million; (c) $180 million; (d) $200 million. 32.   One important consequence of widened income and wealth disparities is a: (a) higher rate of inflation than would...
1. The first step in any top down stock valuation is:A. economic analysis.B. an accurate stock...
1. The first step in any top down stock valuation is:A. economic analysis.B. an accurate stock market prediction.C. financial analysis.D. industry analysis. 2. Which of the following is not a goal of the federal government economic policy as established by the Employment Act of 1946?A. Low inflationB. High levels of employmentC. Balanced federal budgetsD. Economic growth 3. The most widely used tool of the Federal Reserve is: A. open-market operations (buying and selling securities for its own portfolio).B. changing the...
[1] The basic problem that gives rise to the study of economics is the need to:...
[1] The basic problem that gives rise to the study of economics is the need to: A) control the effects of actions by foreign governments. B) be sure all the goods and services produced in an economy get sold. C) use scarce resources to satisfy people's unlimited material wants and needs. D) control people's tastes and wishes so that the available resources can produce all the goods and services they want. [2] Economics is concerned with: A) earning as much...
19. The method we used to determine whether a country/society was better or worse off after...
19. The method we used to determine whether a country/society was better or worse off after a change in policy or a movement towards free trade (from autarky) was a. by calculating the net effects b. by examining the total surplus c. by considering the deadweight loss triangles d. all of the above e. none of the above (not including d) ------------------------------------------------------------------------------------------------------------------------- 20. Consider the small Home country doing tariffs under PC. Which of the following statements is true? a....
Chapter 11: 1.Even before the economic crisis of 2007 to 2009, employees in the United States...
Chapter 11: 1.Even before the economic crisis of 2007 to 2009, employees in the United States were working about _____ more hours per year than their European counterparts. a. 70 b. 249 c. 350 d. 1,970 2. In 2005, about 20% of home loans were _____, meaning they were loans sold to low-income people who had little chance of paying their mortgages, often under predatory terms that were especially unfavorable to the unsuspecting borrowers. a. subprime triple-A rated c. fixed-rate...
1.Which of the following statements holds true for the term “multicultural respect ethical strategy”? Select one:...
1.Which of the following statements holds true for the term “multicultural respect ethical strategy”? Select one: a. It refers to the charge that people and organizations are forcing ethical codes and attitudes on people with different histories, habits, and customs. b. It refers to accepting that the customs and habits of those conforming to a society should provide guidance for all those entering the society within a culturalist ethics. c. It refers to an internalized inferiority complex which causes people...
6) When a country does not meet the requirements of the SGP, it is declared in...
6) When a country does not meet the requirements of the SGP, it is declared in excessive deficit by the Council. What is the sanction imposed Select one: a. Fine of 0.2 per cent of the delinquent’s GDP. Resources are frozen until the procedure is lifted b. Fine of 0.5 per cent of the delinquent’s GDP, and an additional 0.2 per cent of GDP for further non-compliance c. Fine of 0.5 per cent of the delinquent’s GDP. Resources are frozen...
Reflect back on your draft. Reread it. Analyze it. What are the strengths of your draft?...
Reflect back on your draft. Reread it. Analyze it. What are the strengths of your draft? What areas will need improvement? The Treatment of Special Needs Children Abstract            Special needs children are still on the receiving end of abuse despite the increased clamor against their mistreatment. Also, they are likely to face discrimination and abuse in their homes and their social spheres; they have limited opportunities for quality education and can find trouble getting adequate medical assistance. The management of...
1. The amount of __________increases when the economy goes into a recession and decreases when the...
1. The amount of __________increases when the economy goes into a recession and decreases when the economy goes into an expansion. a. structural unemployment b. seasonal unemployment c. cyclical unemployment d. frictional unemployment 2. It is difficult for cyclically unemployed persons to find jobs because a. they typically do not meet the qualifications required for the available jobs. b. the economy is in a recession. c. they voluntarily quit their last jobs and employers may view them as unreliable. d....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT