1. Give a brief rationale (i. e., an explanation for) for the following provisions of the individual income tax laws: a. b. C. d. 2. exemptions. deductions for charitable contributions to colleges. deductions for large medical expenses. deductions for property taxes paid to local governments. Show the impact of moral hazard in the health care market on economic efficiency? Would a 25 percent copayment requirement reduce the welfare cost (deadweight) loss by 25 percent?