WAEC Economics 2018 Objective — Question 38
Question 38 of 50 from the West African Examinations Council (WAEC) Economics 2018 Objective paper, with the correct answer and a full explanation.
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Income is redistributed when the rich
- A. are progressively taxed and more private schools are establishedCorrect
- B. are subsidized on petroleum products
- C. more public goods are provided
- D. farmers are given guaranteed prices
Explanation
Progressive taxation of the rich (with proceeds used for public benefit) is a key mechanism for redistributing income.
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