When government inefficiencies exist
A) a country tends to grow at a slower rate.
B) a country tends to grow at a faster rate.
C) economic growth is not influenced.
D) dead capital is usually not a problem.
A
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When the marginal social benefit of Good A is greater than the marginal private benefit of Good A, then
A) competitive, unregulated markets will produce a quantity of Good A that is less than the efficient quantity. B) competitive, unregulated markets will produce the quantity of Good A that is equal to the efficient quantity. C) competitive, unregulated markets will produce a quantity of Good A that is greater than the efficient quantity. D) the government should levy a tax on the production of Good A that is equal to the horizontal distance between the two marginal cost curves.
Which of the following situations is a clear application of the benefits principle of taxation?
A. Wealthier people are taxed more heavily. B. Heavier vehicles are charged higher tolls on turnpikes. C. State government providing a free education to any child in the state. D. Sales of measles vaccine exempt from sales tax.