How might increasing the level of government transfers, Ask an Expert

Economics

How might increasing the level of government transfers reduce the size of the economic pie? Check all that apply. (Can you give an explanation if you answer this? I want to be able to actually understand it, not just put in the right answer)

Greater transfer activity diverts productive resources into rent-seeking activity.

Higher taxes may be necessary to finance increased transfer payments, leading to a reduction in hours worked because of a decrease in the reward for productive activity.

People may devote less time and energy to avoidance of taxes needed to finance increased transfer payments.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91720628

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