Provide a utilitarian justification for using the tax system to provide a more equal distribution of income as well as two possible counterarguments to this viewpoint

What will be an ideal response?

A utilitarian justification for a more equal distribution of income is embodied in the notion of a social welfare function. Implicitly this notion weighs the well-being of some individuals against others, with the idea that redistribution can increase social welfare by shifting income from individuals where the income will have a lesser impact on the social welfare function to those individuals where it will have a higher impact. One counterargument to this viewpoint is that those being forced to give up income through taxation are being unfairly coerced. The second counterargument is that inequality is frequently the result of higher productivity and thus is justified, regardless of the whether or not "social welfare" is maximized.

Economics

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The Asian economies raise investment finance through

a. foreign direct investment b. loans c. IPOs d. all of the above e. both a and b are correct

Economics

Many countries impose tariffs or quotas to protect the domestic industry from competition.

Answer the following statement true (T) or false (F)

Economics