Which of the Following Programs Would Redistribute Consumer Surplus in Favor

question 8

Multiple Choice

Which of the following programs would redistribute consumer surplus in favor of those with less surplus in an otherwise free market economy?

• A) Providing welfare payments to the poor that are paid for by income taxes
• B) Enforcing existing property rights
• C) Ensuring that the market results in an efficient outcome
• D) Eliminating estate taxes

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Definitions:

Long-Term Memory

Long-term memory is the component of the memory system capable of storing large amounts of information for periods ranging from days to a lifetime.

Hierarchy

A system in which members of an organization or society are ranked according to relative status or authority.

Common Features

Attributes or characteristics that are shared among a group of objects, concepts, or phenomena.

Information Processing

A psychological approach studying the mind analogously to a computer, focusing on how information is perceived, processed, and stored.