When the Government Attempts to Improve Equality in an Economy

question 36

Multiple Choice

When the government attempts to improve equality in an economy the result is often

• A)an increase in overall output in the economy.
• B)additional government revenue since overall income will increase.
• C)a reduction in equality.
• D)a reduction in efficiency.

Learn how to respond to customer complaints effectively.

Gain knowledge on the strategic opening and closing of business communication.

Understand the different types of individual incentives and their applications.

Grasp key concepts of scientific management and how it applies to job design and performance.

---

Definitions:

Market Equilibrium

The state where the quantity demanded by consumers equals the quantity supplied by producers, leading to a stable market price.

Economists

Experts focused on analyzing how goods and services are produced, distributed, and consumed.

Opportunity Cost

The loss of potential gain from other alternatives when one particular option is chosen.

Tax Cut

A reduction in the amount of taxes that individuals or corporations owe to the government.