Which of the following would be the most likely candidate for direct application of the benefits principle of taxation?
A. Education
B. Fire protection
C. Police protection
D. Use of roads
Answer: D
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An economic model is a complex version of reality used to analyze real-world economic situations
Indicate whether the statement is true or false
Why does investment by multinational corporations not necessarily help to close the foreign exchange gap
What will be an ideal response?
What happens when wages are set above the equilibrium level by law?
What will be an ideal response?
To ensure mutually beneficial trade, the terms of trade between two countries should always
A. Be between their respective opportunity costs in production. B. Be set to favor the larger country because its output will be greater. C. Be set to favor the country with the least comparative advantage in a good to ensure the greatest gains from specialization. D. Allow each country to develop its area of absolute advantage.