The US government taxes individuals and redistributes income from higher income earners to low income earners. Which of the following best describes the goals of this action?
full employment and sustainability
equity and security
efficiency and price stability
growth and freedom
Which of the following represents an income redistribution program?
Private School
Housing Assistance
Fire Departments
Police Enforcement
Providing well-defined and protected property rights enables an economy to
promote efficient use of resources and economic growth.
equitably distribute all resources.
ensure that all wealth stays in a few hands.
rely on traditional systems and sustenance farming.
Patents, copyrights, trademarks, and creative commons are ways that the government
redistributes income to promote equity.
protects intellectual property to provide incentives to innovate.
ensures that earnings from capital are used to promote economic security.