3. Equality versus efficiency Match each definition to its appropriate concept. Definition When economic benefits are distributed uniformly across society When a society gets the most it can from its scarce resources Equality Efficiency All societies face a trade-off between equality and efficiency If the United States government raises the income taxes on the wealthiest Americans, while increasing welfare payments to the poorest Americans, the result will likely be in efficiency and in equality in the United States
Answer
When economic benefits are distributed uniformly across society
– Equality
When a society gets the most it can from its scarce resources –
Efficiency
If the United States government raises the income taxes on the
wealthiest Americans, while increasing welfare payments to the
poorest Americans, the result will likely be a
decrease in efficiency and an increase in
equality in the United States.
