The theory that the wealthy should contribute more to police protection than the poor because they have more to protect is based on
a. the ability-to-pay principle.
b. a consumption tax plan.
c. the benefits principle.
d. property tax assessments.
c
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A firm is charging a different price for each unit purchased by a consumer. This is called
A) first-degree price discrimination. B) second-degree price discrimination. C) third-degree price discrimination. D) fourth-degree price discrimination. E) fifth-degree price discrimination.
In the event of excess supply in the coffee market:
A. the price of coffee will increase. B. the price of coffee will decrease. C. the supply of coffee will decrease (supply will shift to the left) to meet the demand. D. the demand for coffee will increase (demand will shift to the right) to meet the supply.
In the mid-1970s, changes in oil prices greatly affected U.S. inflation. When oil prices rose, the U.S. would experience:
A. Cost-push inflation and rising output B. Demand-pull inflation and rising output C. Cost-push inflation and falling output D. Demand-pull inflation and falling output
If the taxes by state and local governments were combined with the Federal tax system, the overall tax structure in the U.S. would best be characterized as:
A. Progressive B. Highly regressive C. Slightly regressive D. Proportional