If the government redistributes income from the rich to the poor:
A) there is no change to efficiency because rich people can afford it
B) everyone gains when the poor have more money
C) people respond by working harder
D) people tend to work less and this causes losses in output
Correct Answer:
Verified
Q43: An equitable outcome is one where:
A)rich people
Q45: When government policies are being designed:
A)equity and
Q48: In order for scarcity to exist, it
Q50: The study of economics is concerned with:
A)keeping
Q51: The central concept of economics is:
A) finance
B)
Q52: Efficiency means that:
A) society is getting the
Q52: Equity means that:
A)all members of society have
Q55: If stricter regulations are used to reduce
Q56: Economics is defined as the study of:
A)politics
Q57: Which of the following resources is least
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