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ECS3704 ASSIGNMENT 3 SEMESTER 2 2024 Use Figure 6.4 in CSS to choose the correct option. Select one: a. If government succumbs to the pressure of rent-seekers, the new equilibrium quantity will be at Q0. b. As a result of rent-seeking, the consumer surR50,00
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ECS3704 ASSIGNMENT 3 SEMESTER 2 2024 Use Figure 6.4 in CSS to choose the correct option. Select one: a. If government succumbs to the pressure of rent-seekers, the new equilibrium quantity will be at Q0. b. As a result of rent-seeking, the consumer sur
ECS3704 ASSIGNMENT 3 SEMESTER 2 2024
Use Figure 6.4 in CSS to choose the correct option.
Select one:
a.
If government succumbs to the pressure of rent-seekers, the new equilibrium quantity will be at Q0.
b.
As a result of rent-seeking, the consumer surplus increases to BP0E0.
c.
Ren...
We can expect an aggregate oversupply of public goods in society because
Select one:
a. voters/taxpayers are rational vote maximisers.
b. bureaucrats try to serve their own interests and oversupply public goods and services
c. there is a good correlation between the objectives of public servants and the objectives of taxpayers.
d. bureaucrats try to use only a few inputs to obtain the maximum level of services.
Clear my choice
Check
Question 2
Not complete
Marked out of 1.00
Which of the following statements is/are correct?
Select one:
a. The most important source of tax revenue in South Africa, is income tax.
b. Because taxes can be shifted forward, the legal burden of a tax is always on consumers.
c. If taxes are designed to be easily understood, we would have a good tax system.
Clear my choice
Select one or more:
a. Each allocative efficient equilibrium position occurs at a different distribution of labour and capital between
individuals.
b. Because rich individuals do not feel sorry for the poor, government is Pareto justified to redistribute income by taxing
the rich and making transfers to the poor.
c. Redistribution would be Pareto efficient if negative externalities are reduced in the process.
Check
Question 4
Not complete
Marked out of 1.00
Which of the following statements is/are correct?
Select one or more:
a. Redistribution would be Pareto efficient if negative externalities are reduced in the process.
b. Each Pareto efficient equilibrium position occurs at a different distribution of labour and capital between individuals.
c. Redistribution can be seen as a public good because its benefits are excludable.
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Question 5
Not complete
Marked out of 1.00
Which of the following statements is/are correct?
Select one:
a. Economies are characterised by a transition from subsistence to industrialisation requiring increased government
participation at each stage of development.
b. Taxpayers would always resist higher taxes and, therefore, growth in the share of government in the economy.
c. If the median income is less than the average income, pressure for the redistribution of income will cause the level of
government expenditure to rise continuously.
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