What is meant by revenue-neutral tax reform? How might agreeing to revenue-neutral tax reform help lead to a more efficient tax system?
What will be an ideal response?
Revenue-neutral tax reform means changing the tax system in some ways but keeping the amount of tax revenue collected constant. Agreeing to revenue neutrality when attempting to change the tax structure might help lead to a more efficient tax system by allowing legislators to focus on efficiency concerns without being sidetracked into debates over the overall level of taxation.
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Which of the following types of goods are rival in consumption?
a. private goods and club goods b. private goods and common resources c. public goods and club goods d. public goods and common resources
An accurate demand curve can be derived by examining the quantities of a good that are sold over time as the price varies.
Answer the following statement true (T) or false (F)