Edgar Browning and William Johnson, in a Paper Published in the Journal

question 149

Multiple Choice

Edgar Browning and William Johnson, in a paper published in the Journal of Political Economy (1984) , presented evidence that a one-dollar transfer to the bottom 40 percent of income distribution costs the top 60 percent nine dollars.If correct, this finding proves

• A)the tax system is generating significant excess burdens.
• B)these transfers are not worth the cost.
• C)loopholes have to be closed.
• D)the burden of the tax system is too great.

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Definitions:

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Expenses incurred in the process of manufacturing goods, including raw materials, labor, and overhead.