17. [3] The research consensus is that higher education spending is associated with better education outcomes. 18. [3] Suppose the State of Missouri was ordered by the courts to provide each school district with an "adequate" level of funding, which they determined to be $2,000. Missouri decides that they will offer Foundation Grants to meet this court mandate. The state decides the minimum level of property tax effort for school districts should be 1% ( that is; they should have a property tax rate of at least 1%). In the MUCO County School District, the average house value per pupil is 1 = $60,000. Further, MUCO County is a tourist destination, and the cost of living is 20 percent higher than average, which makes educating students more costly by the same 20 percent. MUCO County will receive a Foundation Grant of $1,800. 19 [3]. In terms of the state corporate income tax apportionment formula for divvying up the taxable income of multistate firms, social welfare is maximized when all states use an equally- weighted three-factor formula. 20. [3] Following the Tax Cuts and Jobs Act of 2017, which cut the corporate tax rate from 28% to 21%, state corporate income tax collections as a share of corporate profits fell