Question: 1. True, False or Uncertain - Explain (6 points) a) The greater the elasticities of demand and supply, the greater the deadweight loss caused by

1. True, False or Uncertain - Explain (6 points) a) The

1. True, False or Uncertain - Explain (6 points) a) The greater the elasticities of demand and supply, the greater the deadweight loss caused by a tax (2 points) b) Consider an economy with a single linear tax rate t. If decreasing the tax rate causes total tax revenue to increase, then decreasing the tax rate is a Pareto-improving policy. (2 points) ) A $100 tax deduction will decrease an individual's tax hability by $100 (2 point)

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