How might increasing level of government transfers reduce

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Reference no: EM131086137

How might increasing the level of government transfers reduce the size of the economic pie? Check all that apply.

1. Higher taxes may be necessary to finance increased transfer payments, leading to a reduction in hours worked because of a decrease in the reward for productive activity.

2. People may devote less time and energy to avoidance of taxes needed to finance increased transfer payments.

3. Greater transfer activity diverts productive resources into rent-seeking activity.

Reference no: EM131086137

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