Consider the Following Two Statements

question 14

Essay

Consider the following two statements:
1) “A tax that has no deadweight loss cannot raise any revenue for the government.”
2) “A tax that raises no revenue for the government cannot have any deadweight loss.” Which one, if any, is correct? Explain.

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Definitions:

Conscientiousness

A personality trait characterized by being thorough, careful, or vigilant; implies a desire to do a task well.

Big Five Trait

Refers to five broad domains or dimensions of personality that are used to describe human personality. These are openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Temperament

The inherent part of an individual's personality, including aspects such as mood, behavior tendencies, and emotional reactivity.

Behavioral Style

The characteristic way in which an individual acts or behaves in different situations.