Question
In: Economics
Tell whether the statement is true or false. Please answer all. ____ 20. The cost disease...
Tell whether the statement is true or false. Please answer all.
____ 20. The cost disease of services explains the problems surrounding the health care crisis.
____ 21. An increase in wages in the public sector is always accompanied by an increase in labor productivity.
____ 22. Federal tax loopholes in personal income tax provide benefits only to very high-income people.
____ 23. State and local governments receive money from sales taxes, property taxes, and the federal government.
____ 24. A tax that reduces economic efficiency is always bad policy.
Solutions
Expert Solution
20. The cost disease of services explains the problems surrounding the health care crisis.
TRUE
The cost disease says that some services have their prices increased multiple times the labor productivity in these services.
There has been a massive rise in healthcare cost but not the same in the labor producitvity of activities in healthcare.
21. An increase in wages in the public sector is always accompanied by an increase in labor productivity
FALSE
22. Federal tax loopholes in personal income tax provide benefits only to very high-income people.
TRUE
A lot of these loopholes can be used and taken advantage of only if the person is very hign income individual.
23. State and local governments receive money from sales taxes, property taxes, and the federal government.
TRUE
These taxes correspond to the state government.
24. A tax that reduces economic efficiency is always bad policy.
TRUE
Rahul Sunny answered 6 months agoRelated Solutions
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