The nation of Lugash has commissioned a panel of economists to recommend possible remedies for growing wealth inequality. The panel's suggestions are listed. Decide whether each policy is best described as redistributive, opportunity‑based, or inheritance‑based. Institute a graduated income tax system. People with higher incomes will pay a relatively large percentage of their income in taxes and people with lower incomes will actually receive a tax refund:____________________ Supply extra funding to low‑performing and low‑income public elementary schools to provide students at these schools more academic enrichment programs:_____________________ Offer low‑interest student loans to students attending public universities as an incentive to increase enrollment:____________________ Provide job training and vocational education programs for students in public high schools:____________________ Create a tax of 30% on an individual's net wealth that must be paid when they die. The remainder of their wealth can then be given to any surviving heirs:_____________________ Create a national healthcare system. Every employed citizen is required to pay a health tax that is used to provide healthcare for low‑income individuals:__________________ Inheritance-based Opportunity-based Redistributive
The nation of Lugash has commissioned a panel of economists to recommend possible remedies for growing wealth inequality. The panel's suggestions are listed. Decide whether each policy is best described as redistributive, opportunity‑based, or inheritance‑based. Institute a graduated income tax system. People with higher incomes will pay a relatively large percentage of their income in taxes and people with lower incomes will actually receive a tax refund:____________________ Supply extra funding to low‑performing and low‑income public elementary schools to provide students at these schools more academic enrichment programs:_____________________ Offer low‑interest student loans to students attending public universities as an incentive to increase enrollment:____________________ Provide job training and vocational education programs for students in public high schools:____________________ Create a tax of 30% on an individual's net wealth that must be paid when they die. The remainder of their wealth can then be given to any surviving heirs:_____________________ Create a national healthcare system. Every employed citizen is required to pay a health tax that is used to provide healthcare for low‑income individuals:__________________ Inheritance-based Opportunity-based Redistributive
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The nation of Lugash has commissioned a panel of economists to recommend possible remedies for growing wealth inequality. The panel's suggestions are listed. Decide whether each policy is best described as redistributive, opportunity‑based, or inheritance‑based.
Institute a graduated income tax system. People with higher incomes will pay a relatively large percentage of their income in taxes and people with
lower incomes will actually receive a tax refund:____________________
Supply extra funding to low‑performing and low‑income public elementary schools to provide students at these schools more academic enrichment programs:_____________________
Offer low‑interest student loans to students attending public universities as an incentive to increase enrollment:____________________
Provide job training and vocational education programs for students in public high schools:____________________
Create a tax of 30% on an individual's net wealth that must be paid when they die. The remainder of their wealth can then be given to any surviving heirs:_____________________
Create a national healthcare system. Every employed citizen is required to pay a health tax that is used to provide healthcare for low‑income individuals:__________________
- Inheritance-based
- Opportunity-based
- Redistributive
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