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
Get an answer
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.
17,201,212 questions answered
Popular Conversations
Consider this quote: "In each of these historical instances . . . ...
Weegy: D. it stands for the omission of only a single word. User: Which of the following statements correctly ...
9/1/2014 8:30:28 AM| 2 Answers
The invasion of this region temporarily halted the fighting between ...
Weegy: The invasion of A.Korea halted the the fighting between the KMT and CPC. User: The letters DMZ stand for ...
9/1/2014 3:12:20 PM| 2 Answers
what is a complex sentence
Weegy: User: what is a simple sentence Weegy: User: what is a compound sentence Weegy: A compound sentence ...
9/1/2014 5:04:39 PM| 2 Answers
Every set of three points is coplanar.
9/1/2014 7:59:14 PM| 2 Answers
Weegy Stuff
S
L
1
L
P
C
1
Points 224 [Total 6757]| Ratings 0| Comments 224| Invitations 0|Offline
S
R
L
1
1
P
C
1
P
1
1
L
P
C
P
C
1
P
C
L
P
C
1
P
C
P
C
P
C
Points 171 [Total 24570]| Ratings 0| Comments 171| Invitations 0|Offline
S
L
C
P
C
1
L
L
P
C
1
Points 159 [Total 16098]| Ratings 1| Comments 149| Invitations 0|Offline
S
L
1
1
1
1
L
1
Points 118 [Total 9898]| Ratings 0| Comments 118| Invitations 0|Offline
S
L
P
C
L
P
C
P
C
L
P
C
P
C
P
C
Points 92 [Total 17264]| Ratings 0| Comments 92| Invitations 0|Online
S
L
P
C
P
C
1
L
P
C
L
P
C
P
C
P
C
P
C
Points 73 [Total 18604]| Ratings 0| Comments 73| Invitations 0|Offline
S
1
L
1
L
P
P
L
Points 40 [Total 11286]| Ratings 0| Comments 40| Invitations 0|Offline
S
Points 29 [Total 699]| Ratings 0| Comments 29| Invitations 0|Offline
S
1
L
L
Points 27 [Total 5151]| Ratings 0| Comments 27| Invitations 0|Online
S
P
C
L
P
L
1
Points 24 [Total 6081]| Ratings 1| Comments 14| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.