Greater income equality that is achieved through the redistribution of income is thought to:
A. Stimulate innovation and entrepreneurship
B. Promote economic efficiency in the economy
C. Increase incentives to work, save, and invest in the economy
D. Come at the opportunity cost of reduced production and income
D. Come at the opportunity cost of reduced production and income
Economics
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In the short-run macro model, rising GDP and a falling interest rate are most likely to be the result of a(n)
a. increase in the money supply b. decrease in the money supply c. increase in government purchases d. decrease in government purchases e. decrease in taxes
Economics
With a tax of $4,000 on $24,000 taxable income, the average tax rate is
A. 16.67%. B. 23.45%. C. 20%. D. 25%.
Economics