microeconomics 15.3

In the following PPF, the tradeoff between economic output and equality initially _____________, which suggests that certain programs might increase both output and economic equality.

Redistribution means taking income from those with higher incomes and providing income to those with lower incomes. The government in an effort to create income fairness uses a device called a progressive tax system. Choose the answer below which best defines a progressive tax system.

Which of the following best defines an estate tax?

In the following PPF, what does movement from point C to point D illustrate?

True or false?

A ladder of opportunity always guarantees that all members of society will succeed in some regard.

In the United States, the average effective income tax rate paid by those in the top 1% of the income distribution is __________ the average federal income tax rate paid by this same group.

In the following PPF, what does movement from point X to point Y illustrate?

In the following PPF, which illustrates the tradeoff between incentives and economic equality, what does point A represent?

Suppose a society exists where households in the top 1% of the income distribution pay an average federal income tax rate of 29% and households in the bottom 40% of the income distribution pay an average federal income tax rate of 5%.

This scenario is an example of _______________.

Why is there a need for public policy to build a ladder of opportunity for children in challenging economic situations?

In the following PPF, what does movement from point B to point C illustrate?

What term best describes taking income from those with higher incomes and providing income to those with lower incomes?