If Henry George's Single Tax on Land Were Applied Today

question 298

Multiple Choice

If Henry George's single tax on land were applied today,

• A) it would make the supply of land more elastic.
• B) the deadweight loss would be much larger than the deadweight loss of alternative taxes.
• C) the tax would not raise enough revenue to pay for government spending.
• D) it would increase immigration and decrease technology.

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Definitions:

Depreciation

Depreciation is the accounting process of allocating the cost of a tangible asset over its useful life, reflecting the loss of value due to wear and tear, decay, or obsolescence.

Indirect Business Taxes

Taxes imposed on the production, sale, or consumption of goods and services, such as sales tax or value-added tax, which are indirectly paid by consumers.

GNP

Gross National Product, a measure of a country's economic performance, accounting for the total value of all goods and services produced over a specific time period.

Domestically Owned Producers

Companies or industries that are owned, controlled, and operated within one's own country.