In the curve, a decline in the tax rate from c to b would:
A. increase tax revenue.
B. decrease tax revenue.
C. leave tax revenue about the same as before.
D. shift the curve to the left.
A. increase tax revenue.
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If external benefits are taken into account in the market
A) the demand curve would shift to the left. B) the supply curve would shift to the left. C) the demand curve would shift to the right. D) the supply curve would become vertical.
According to utilitarian justice, the redistribution of income from the rich to the poor causes
A. the marginal utility of both the rich and the poor to decrease. B. an increase in total utility because of the law of decreasing marginal utility. C. the rich to sacrifice a lot and the poor to gain a little. D. the marginal utility of both the rich and the poor to increase.