Which of the following is a tax based on the benefits-received principle?
A. A tax on imports that is used to finance job retraining for workers who have lost their jobs because of the competition from imported products.
B. A property tax, if the revenue is used to finance public education.
C. A tax added to the camping fee at national parks that is used to maintain and upgrade camping facilities at national parks.
D. A progressive income tax that is used to finance national defense.
Answer: C
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Iceland's real GDP grows at a rate of 2.6 percent and population grows at a rate of 0.8 percent. Iceland's real GDP per person grows at a rate of
A) 3.0 percent. B) 1.8 percent. C) 2.6 percent. D) 3.4 percent. E) 3.2 percent.
If company Z is receiving a government subsidy, the government is taking money from ____________ and giving it to company Z. If company Z is getting a tax deduction (instead of receiving a subsidy) then company Z is ______________________
A) taxpayers; paying more in taxes than it would without the tax deduction B) taxpayers; subsidizing the taxpayers C) Congress; paying more in taxes than it would without the tax deduction D) taxpayers; paying less in taxes than it would without the tax deduction
Central banks are responsible for:
A. monetary policy but not fiscal policy. B. both monetary policy and fiscal policy. C. fiscal policy but not monetary policy. D. neither monetary policy nor fiscal policy.
A positive externality is the positive effect that:
A. an action has on others that is not taken into account by the decision maker. B. external forces have on society as a whole. C. external forces have on a decision maker. D. an action has on the decision maker.