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Equality

Equality

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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 in equality in the United States. in efficiency and Match each definition to its appropriate concept. Definition When economic benefits are distributed uniformly across society When a society gets the most it can from its scarce resources Equality Efficiency
Transcribed Image Text: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 in equality in the United States. in efficiency and Match each definition to its appropriate concept. Definition When economic benefits are distributed uniformly across society When a society gets the most it can from its scarce resources Equality Efficiency
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