When people say, "government officials act on the basis of the property rights which they perceive," they mean
A) government officials are inherently conservative.
B) government officials do not have to be concerned about information being scarce.
C) government officials make decisions based on the expected consequences to themselves.
D) government officials will ordinarily not confiscate property without due process of law.
C
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The sales tax is generally considered to be a regressive tax
a. True b. False Indicate whether the statement is true or false
Critics of the marginal productivity theory of income distribution claim that the theory is flawed due to:
A. The law of diminishing returns B. The existence of imperfect competition, such as of monopoly and monopsony, in output and resource markets C. The problem of comparing different kinds of resources, such as capital and labor D. Government policies which redistribute income