Question and answer
Suppose people freely choose to spend 40 percent of their income on health care, but the government decides to tax 40 percent of a person's income to provide the same level of coverage as before. What can be said about deadweight loss in each case? A. Taxing income results in deadweight loss, while purchasing health care on one's own does not result in deadweight loss. B. Taxing income
results in less deadweight loss, because government knows better what health care coverage is good for society. C. There is no difference because the goods are purchased in the market in either case. D. There is no difference because the total spending remains the same and the health care purchased remains the same.
B. Taxing income results in less deadweight loss, because government knows better what health care coverage is good for
Ask a question
Not a good answer? Get an answer now. (FREE)
Original conversation
User: Suppose people freely choose to spend 40 percent of their income on health care, but the government decides to tax 40 percent of a person's income to provide the same level of coverage as before. What can be said about deadweight loss in each case? A. Taxing income results in deadweight loss, while purchasing health care on one's own does not result in deadweight loss. B. Taxing income results in less deadweight loss, because government knows better what health care coverage is good for society. C. There is no difference because the goods are purchased in the market in either case. D. There is no difference because the total spending remains the same and the health care purchased remains the same.

Weegy: B. Taxing income results in less deadweight loss, because government knows better what health care coverage is good for
Booknerd_lizzy|Points 350|

User: Countries can expect to gain from international trade as long as they

User: Which of the following is an example of the law of one price? A. Exchange rates tend to have equivalent values. For example, one Italian lire equals one U.S. dollar. B. Because people have essentially the same basic needs wherever they live, they tend to buy the same bundle of goods. C. Because wages are so much lower in China, eventually all U.S. jobs will be outsourced to China, leaving the US to import all goods at one price. D. Because their countries have similar institutions, the price paid for a computer in Germany and the United States are about the same when converted into the same currency.

Weegy: A. Exchange rates tend to have equivalent values. For example, one Italian lire equals one U.S. dollar is an example of the law of one price.
Expert answered|alfred123|Points 1744|

Question
Asked 3/10/2013 10:27:36 AM
0 Answers/Comments
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Home | Contact | Terms | Privacy | Social | ©2013 Purple Inc.
Ad
Popular Conversations
hat are the square roots of 324? A. 162 and –162 B. 19 and ...
Weegy: What are the square roots of 324? C. 18 and –18
4/17/2014 10:38:56 AM| 8 Answers
The Filipinos call it the Luzon Sea and the Vietnamese call it the ...
Weegy: The Filipinos call it the Luzon Sea and the Vietnamese call it the East Sea, but however it's named, the SOUTH ...
4/17/2014 6:25:33 PM| 4 Answers
Read the sentence below and answer the question that follows. ...
Weegy: Kindly underline the verb indicated.
4/17/2014 10:31:56 AM| 3 Answers
Which of the following is a solution of y + x
Weegy: One number exceeds another by -5. The sum of the numbers is -1. The numbers are -3 and 2. User: A 20% acid ...
4/17/2014 4:31:53 PM| 3 Answers
WHAT IS NOUN?
Weegy: Nouns are a part of speech typically denoting a person, place, thing, animal or idea. User: WHAT IS ADMIRAL
4/17/2014 4:12:27 AM| 2 Answers
the climax of McClellan's Peninsular campaign in Virginia
Weegy: the climax of McClellan's Peninsular campaign in Virginia McClellan’s Peninsula campaign in the spring of 1862 ...
4/17/2014 4:46:05 AM| 2 Answers
What is the meaning of life today?
Weegy: What is the meaning of life today? A problem with this question is that it is not clear what sort of answer is ...
4/17/2014 5:30:49 AM| 2 Answers
Water sources in the Middle East are __________. A. easily ...
Weegy: Water sources in the Middle East are limited.
4/17/2014 7:08:31 AM| 2 Answers
Kasimir Malevich's images had no reference at all to ...
Weegy: nonrepresentational [ ...
4/17/2014 10:04:42 AM| 2 Answers
The cycle of the moon through its phases, or the synodic month, is ...
Weegy: The cycle cycle of the moon through its phases, or the synodic month is 30 days long.
4/17/2014 10:07:27 AM| 2 Answers
When looking at genetic traits Mendel experimented with pea plants. ...
Weegy: When looking at genetic traits Mendel experimented with pea plants. One of the traits he looked at was flower ...
4/17/2014 10:12:12 AM| 2 Answers
Weegy Stuff
S
L
P
C
P
C
1
L
P
C
Points 1423 [Total 9304]| Ratings 0| Comments 1423| Invitations 0|Offline
S
L
P
C
L
P
C
Points 1402 [Total 6789]| Ratings 0| Comments 1402| Invitations 0|Offline
S
1
L
1
L
P
Points 431 [Total 7108]| Ratings 1| Comments 421| Invitations 0|Offline
S
L
Points 353 [Total 2800]| Ratings 2| Comments 323| Invitations 1|Offline
S
Points 140 [Total 556]| Ratings 0| Comments 140| Invitations 0|Offline
S
1
Points 139 [Total 469]| Ratings 3| Comments 109| Invitations 0|Offline
S
R
Points 115 [Total 227]| Ratings 5| Comments 55| Invitations 1|Offline
S
Points 111 [Total 755]| Ratings 1| Comments 101| Invitations 0|Offline
S
Points 105 [Total 105]| Ratings 5| Comments 35| Invitations 2|Offline
S
P
C
L
P
Points 76 [Total 3921]| Ratings 0| Comments 76| Invitations 0|Offline