A major objective of tax policy should be to
a. avoid distortions in resource allocation while raising revenue
b. divert savings from the private to the public sector
c. increase the government's ability to direct the economy
d. supplement resources entering the country from foreign aid
e. all of the above
A
Economics
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In a perfectly competitive market that is in long-run equilibrium, which of the following will NOT occur?
A) Firms make only zero economic profit. B) Firms' owners earn a normal profit. C) The price equals the minimum average total cost. D) Entrepreneurs want to enter this industry.
Economics
Explain how an increase in the price of leather brought about by shift in tastes may lead to an increase in the supply of beef
What will be an ideal response?
Economics