Technological Advance Improves Allocative Efficiency by

question 167

Multiple Choice

Technological advance improves allocative efficiency by

• A) enhancing monopoly power.
• B) reducing income inequality.
• C) giving society a more-preferred mix of goods and services.
• D) encouraging saving.

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Definitions:

Local Government Revenue

The income generated by local governments from taxes, fees, and grants to fund public services and infrastructure.

Taxes in The U.S.

Various compulsory financial charges imposed by the government on individuals and organizations to fund public expenditures.

Proportional

Characterized by a constant relationship in degree or number between two variables.

Average Tax Rate

The proportion of total income that is paid as tax, calculated by dividing the total amount of tax paid by the total income.