Market failure occurs when a market fails to maximize net social welfare
a. True
b. False
Indicate whether the statement is true or false
True
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If the government cuts income taxes, then the
a. investment curve will shift upward b. investment curve will shift downward c. consumption curve will shift downward d. consumption curve will shift upward e. economy will move to a new point along the existing consumption curve
What is the current, annual, approximate amount per person paid to the federal government in individual income taxes, social insurance taxes, corporate income taxes, and other taxes?
Choose the statement that is correct.
A. The ability-to-pay principle can justify high fuel taxes to pay for freeways and high taxes on alcoholic beverages and tobacco products to pay for public health care. B. The ability-to-pay principle results in a tax system that is efficient and fair. C. The benefits principle is a fair arrangement because it means that those who benefit most pay the most taxes. D. The benefits principle results in a tax system that is efficient and fair.
Health and education are two of the lynch pins of economic development.
Answer the following statement true (T) or false (F)