James Mirrlees argued that the schedule of this policy should depend on the ability distribution.Frank Ramsey treated determining this policy as a monopolist setting price based on maximizingsocial welfare, and argued it should be determined by the inverse of the price elasticity of demand.The Barro-Ricardo equivalence theorem shows that given certain assumptions, consumers areindifferent towards issuing public debt and a change in this policy. The cost of (*) negativeexternalities can be internalized if a Pigovian type of these is implemented. The Laffer curve shows thepoint at which this value maximizes government revenue. For 10 points, name this policy that requirespaying governments a c
James Mirrlees argued that the schedule of this policy should depend on the ability distribution.Frank Ramsey treated determining this policy as a monopolist setting price based on maximizingsocial welfare, and argued it should be determined by the inverse of the price elasticity of demand.The Barro-Ricardo equivalence theorem shows that given certain assumptions, consumers areindifferent towards issuing public debt and a change in this policy. The cost of (*) negativeexternalities can be internalized if a Pigovian type of these is implemented. The Laffer curve shows thepoint at which this value maximizes government revenue. For 10 points, name this policy that requirespaying governments a certain amount of money, often based on consumption or income.
James Mirrlees argued that the schedule of this policy should depend on the ability distribution.
taxes [or more specific types like income taxes, commodity taxes, etc.]