Asked by beyonce logan on May 12, 2024

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A tax system with little deadweight loss and a small administrative burden would be described as

A) efficient.
B) equitable.
C) communistic.
D) capitalistic.

Deadweight Loss

A reduction in economic productivity that arises when a good or service does not reach or cannot reach its market equilibrium.

Administrative Burden

The administrative and regulatory obligations that organizations must follow, often involving substantial paperwork and compliance efforts.

Tax System

The structured method by which governments impose financial charges on citizens, businesses, and property to fund public expenditures.

  • Acquire knowledge on the foundational principles of tax efficiency and the contributing factors to a well-functioning tax system.
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Verified Answer

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NKeshia RuckerMay 19, 2024
Final Answer :
A
Explanation :
A tax system with little deadweight loss and a small administrative burden is considered efficient because it maximizes welfare and minimizes the costs associated with tax collection and compliance.