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

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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.

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