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QUESTION:

3. Equality versus efficiency

All societies face a trade-off between efficiency and equality. If the government lowers income taxes on Americans in the top one percent of earners, while decreasing welfare payments to citizens with incomes below the federal poverty threshold, the most likely result is ain efficiency and in equality in the United States.

ANSWER:

f the government lowers income taxes on Americans in the top one percent of earners, while decreasing welfare payments to citizens with incomes below the federal poverty threshold, the most likely result is an increase  Correct in efficiency anda decrease  Correct in equality in the United States.


atch each definition to its appropriate concept.
Definition
Efficiency
Equality
When a society gets the most it can from its scarce resources
When economic benefits are distributed uniformly across society
Points:
1 / 1
Close Explanation
Explanation:
Efficiency means that society is utilizing its scarce resources to attain the maximum possible benefits. Equality, on the other hand, means that those benefits are distributed evenly among all members of society. Efficiency can be thought of as the size of the economic pie, while equality describes how that economic pie is divided into individual slices.

Posted by Cleveland on August 28, 2024
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