Under what circumstances would a rise in income tax act as (a) a disincentive and (b) an incentive to effort?
Answer to relevant QuestionsWhat is meant by the poverty trap? What design of benefit system would offer the best solution to the problem of the poverty trap?Consider the advantages and disadvantages of extending property rights so that everyone would have the right to prevent people imposing any costs on them whatsoever (or charging them to do so).Make out a case for adopting a policy of individual tradable carbon permits, allocated to all citizens within a country. Could such a policy be extended globally?There exists a view that the UK is too small an economy to benefit from competition in many industries, with firms failing to reach minimum efficient scale. What does this imply for competition policy?Will the rate of actual growth have any effect on the rate of potential growth?
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