Taxes that enhance economic efficiency will have a better chance of passing through Congress than less efficient tax reforms. _____.
a. This is probably enough to produce an efficient tax system
b. This is not enough to produce an efficient tax system
c. This shows special interests have no impact.
d. This shows that many government officials act in the public interest.
Question 2
The above figure shows supply and demand curves for milk. In an effort to help farmers, the government passes a law that establishes a 3 per gallon price support. The loss in social welfare resulting from this price support equals
A) k + i.
B) j.
C) 3 (Q2 - Q1) - h.
D) 3 k.
Production efficiency.
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