Concepts of equity are important because they provide some criteria for evaluating the fairness of a tax system
a. True b. False
a
You might also like to view...
Adam Smith believed that people are guided by
A. the principle "let your conscience be your guide." B. greed. C. the public good. D. an innate sense of fairness.
If a decrease in the price of good X results in a decrease in the quantity of Y demanded,
A. good X and good Y are substitutes. B. good X and good Y are complements. C. the cross-price elasticity of demand for good Y is negative. D. There is not sufficient information to determine the relationship between good X and good Y.
When a second firm enters a monopolist's market, the monopolist's marginal revenue curve will:
A. shift to the left as its initial demand curve shifts to the left. B. shift to the right as its initial demand curve shifts to the right. C. remain the same. D. None of these
In a business cycle, a peak represents the end of
A. a trough. B. a recession. C. a depression. D. an expansion.