Microeconomics (MindTap Course List)
10th Edition
ISBN: 9781285859484
Author: William Boyes, Michael Melvin
Publisher: Cengage Learning
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Question
Chapter 19, Problem 9E
To determine
To explain:
The reason to rely on government's action on reducing income inequality and the reason private market does not resolve the problem.
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How would a utilitarian, a liberal, and a libertarian determine how much income inequality is permissible?
Why do most modern societies try to reduce poverty? What is the most effective way to reduce poverty in your community in the long term?
What are three policy solutions to lessen the economic consequences of inequality. Explain in detail.
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Microeconomics (MindTap Course List)
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- To reduce income inequality, should the marginal tax rates on the top 1 be increased?arrow_forwardwhat do each of the school of economics - classical, neoclasscial, austrian, marxian, keynesian, institutionalism, chicago, behavioural, feminist, buddhist, ecological and evolutionary economics think about income inequality and what there proposed solutions?arrow_forwardWhat government suppose to do to eradicate poverty in order to reduce the cost of living?arrow_forward
- What are the possible ways that the government should act to eradicate poverty?arrow_forwardWhich of the following are reasons why high income inequality may be inefficient? Check all that apply. 0 0 High inequality may lead to an overinvestment in higher education at the expense of primary education High inequality limits access to credit for a larger share of the population Redistribution through progressive tax systems creates work disincentives and limits investment. Savings rates for the very wealthy tend to be lower than in the middle class High inequality reflects differences in skills and effort by workersarrow_forwardWhy is there an increase in poverty and inequality?arrow_forward
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