Economics WAEC

Income is redistributed when the rich are progressively taxed and?

A. more private schools are established
B. subsidy is provided on petroleum products
C. more public goods are provided
D. farmers are given guaranteed prices

Correct Answer: Option C

C. more public goods are provided

Explanation

Income Redistribution: is an economic practice that is aimed at leveling the distribution of wealth or income in society through a direct or indirect transfer of income from the rich to the poor. Economists or Governments adopt economic policies and strategies like progressive taxation to implement this phenomenon. the tax is used to build public infrastructure

Sunday

Share
Published by
Sunday
Tags: economics

Recent Posts

ETM 312 Theory Questions: Land Law and the Consequences of Unauthorized Land Transfers in Nigeria

300 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 312 Theory Questions: Co-Ownership Structures and Land Acquisition Methods in Nigeria

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 312 Theory Questions: Rights in Community Land and Fundamental Land Concepts in Nigeria

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 312 Theory Questions: Customary Land Control and the Origins of Nigeria’s Land Use Act

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 312 Theory Questions: Land Ownership Principles and Transaction Laws in Nigeria

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago

ETM 226 Theory Questions: Trespass: Types and Defenses in Property Law

200 Level Estate Management and Valuation Department exam questions and detailed answers. Download the answers…

5 months ago