Do you agree or disagree Explain your reasoning. There need be no trade-off between
Chapter 23, Problem 8(choose chapter or problem)
Do you agree or disagree? Explain your reasoning. There need be no trade-off between equality and efficiency. An efficient economy that yields an income distribution that many regard as unfair may cause those with meager incomes to become discouraged and stop trying. So efficiency may be undermined. A fairer distribution of rewards may generate a higher average productive effort on the part of the population, thereby enhancing efficiency. If people think they are playing a fair economic game and this belief causes them to try harder, an economy with an equitable income distribution may be efficient as well.7 LO23.4
Unfortunately, we don't have that question answered yet. But you can get it answered in just 5 hours by Logging in or Becoming a subscriber.
Becoming a subscriber
Or look for another answer