If 12 million pairs of shoes are sold, , which means that: it would be more efficient for society to devote fewer resources to the production of shoes. it would be fairer for society to devote fewer resources to the production of shoes. society is currently devoting the efficient quantity of resources to the production of shoes. it would be fairer for society to devote more resources to the production of shoes. it would be more efficient for society to devote more resources to the production of shoes.

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?