Advocates of a market orientation argue that exclusive reliance on the visible hand of government will never bring spending address control. The missing component has been the invisible hand of the market pricing mechanisms. Patient spending their own money have an incentive to control spending. Comment.

Q: The idea that people in equal conditions should pay equal taxes is referred to as Group of answer…

A: The term “tax” is defined as the compulsory payment made by the individuals of the country to either…

Q: What does the research and experimentation tax credit do? Group of answer choices A)Generates…

A: Answer: Research and experimentation tax credit: this tax credit can be claimed by the taxpaying…

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A: supply is defined as the quantity of goods that the producers decide to sell in the market at any…

Q: What is an alter ego theory relative to matters requiring Presidential Action

A: Alter ego theory assumes that the corporation, managing directors, and the shareholders are the…

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A: Here, it is given that state taxes paid by Sarah Marshall are used to contribute as the funds for…

Q: True or False: The George W. Bush tax cuts​ (circa 2001) were touted by the Bush administration as…

A: Mean: - it is the measure of central tendency which is the average of all observations and the mean…

Q: o economic theory, which of the following is NOT a feature of an ideal tax system? Multiple Choice…

A: In economics, the Ideal Tax system is a system that complete the criteria of increasing state…

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A: Market failure arises when one party/person imposes a negative externality on others. As a result,…

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A: Fiscal policy refers to the use of tax policies and government spending tin order o influence…

Q: By decreasing government spending and aggregate demand, the policy ________ the price level and…

A: When other things remain the constant, decreasing aggregate demand leads to reduce the price level.…

Q: Consider the Laffer Curve. Why does government revenue drop to the right of T∗? (A) People work…

A: Laffer-curve is a graph portraying the government-revenue from taxes corresponding to the existing…

Q: The Laffer curve suggests which of the following? a. the optimal tax rate on labor income is 0% b.…

A: Laffer curve: - Laffer curve is the graphical representation of the relationship of tax rate and the…

Q: Which of the following is a major function of a whip?     He/she decides who can speak on the…

A: A whip is an authority of a party whose task is to make sure party discipline during a legislature.…

Q: A specific tax on sellers will *       a)shift the supply curve to the right.       b)shift the…

A:

Q: Tax incidence usually falls A. only on producers. B. on both consumers and producers. C. only on…

A: Tax incidence is the division the burden of tax falls between producers and consumers. The burden of…

Q: An excess burden is present when taxpayers alter their behavior on account of taxation

A: False.

Q: Economists disagree on whether labor taxes cause small or large deadweight losses. This disagreement…

A: The tax is a unilateral payment made by the people towards the government for various purposes such…

Q: An economist who favors smaller government would recommend: tax cuts during recession and…

A: Economists, such as classical, favor smaller government as they emphasize the role of the invisible…

Q: e welfare gains from a govemment policy that increases the supply of AQ = 100. Assume that this…

A: Welfare is considered as the surplus of anything that can be gained by producers and consumers. The…

Q: Which of the following is NOT counted in the "G" component of spending   a. social security payments…

A: Answer- Need to find- Which of the following is NOT counted in the "G" component of spending…

Q: True or False (and explain your answer) : The George W. Bush tax cuts​ (circa 2001) were touted by…

A: We are going to use median and average properties to answer this question.

Q: The excess burden is an increasing function of a tax. True, false or uncertain: the excess burden of…

A: As the rate of tax increases, its burden on the one bearing it rises and thus it can be rightly said…

Q: axation can promote good social policy while minimizing economic inefficiency. True False

A: Economic inefficiency can be termed in the reference of externalities. In the presence of…

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A: The government influences the amount of discretionary income available to households by raising or…

Q: Which statement is an argument against a tax system that encourages savings?     that individuals…

A: The statement is that which is an argument against a tax system that encourages savings.  The…

Q: What has been the impact of the Supreme Court ruling in  Citizens United v. Federal Election…

A: The Supreme Court of the United States is the country's highest court. It is the judicial branch of…

Q: Model I: The Pentagon makes Congress a take-it-or-leave-it offer of a particular z-level combined…

A: Budget maximizing model states that a bureaucrat would always and in all situation prefer to raise…

Q: What is the market failure that justifies goverment involvement in the economy

A: Governments intervene in markets to deal with inefficiency. In an optimally efficient market,…

Q: For each of the following scenarios involving the U.S. government, determine the primary function of…

A: Since you have asked multiple questions, and according to policy, we can solve only 1 question, and…

Q: Consider an economy in which an individual (A) is consuming two goods (X and Y). The government is…

A: Consumption: It refers to the process in which a consumer spends money on goods and services so that…

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A: Given that the current tax rate is 60%, the tax revenue is $250. In order to increase the revenue,…

Q: A tax on umbrellas will most likely Select one: a.cause a large decline in the sales of umbrellas…

A: At a marketplace, when government imposes a tax on any good, it will influence the decision of an…

Q: Economists James Buchanan and Gordon Tullock are well-known for developing Group of answer choices…

A: Both the economist developed public choice model in which choices of public were analyzed.

Q: Tax revenue when tax is $80 Tax revenue when tax is $40 Tax revenue when tax is $120 The graph shows…

A: From the demand schedule, the demand equation is P = 200 – 2Q and the supply equation is P = 40 +…

Q: Consider the following hypothetical income tax brackets for a married couple. Assume for simplicity…

A: The marginal tax rate is how much extra tax paid for each extra dollar procured as pay. The average…

Q: How a tax burden is divided between consumers and producers is called tax incidence. Consumers bear…

A: Tax incidence depends on price elasticity of demand and supply.

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A: In Economics, incidence of tax explains which party ultimately bears the burden of tax. It expalins…

Q: Consider the five reform proposals suggested by the authors in this special topic. Indicate why you…

A: One explanation for the health downside of the united states relative to different high-earnings…

Q: The efficiency loss of a tax is the idea that:        in addition to taking income from the…

A: Taxation results in an increase in the price that consumers have to pay above the equilibrium…

Q: Which of the following is related to the issue public finance? * Public finance deals both fiscal…

A: The study of the government's role in the economy is known as public finance. It is a discipline of…

Q: Suppose that a tax is placed on a particular good. If the consumers pay a higher share of the tax,…

A: Elasticity measures the responsiveness of quantity to changes in price level

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A: The Volcker rule aims to provide a general concept of the banking entities  including an engaging…

Q: When a good is taxed, the side of the market with fewer good alternatives cannot easily leave the…

A: The size of the tax burden depends on the availability of substitutes for the good.

Q: Which of the following government spending categories falls into the discretionary category SNAP…

A: Discretionary spending of a government covers programs and policies which require appropriations by…

Q: The concept that people should pay taxes based on the benefits they receive from government services…

A: The taxes are the legal proceedings that are paid by the citizens of the country for the services…

Q: Government policy concerning its spending and taxation is called Multiple Choice the quantity theory…

A: There are two types of policies, fiscal policy and monetary policy.