________ holds that those with equal ability to pay should bear equal tax burdens.
A. Vertical equity
B. The benefits-received principle
C. Progressive tax theory
D. Horizontal equity
Answer: D
You might also like to view...
Which of the following describes the extent of international trade in the U.S. economy?
A. About 20% of U.S. manufacturing jobs depend directly or indirectly on exports. B. Since? 1950, U.S. imports have increased from less than 5 percent of GDP to about 1010 percent in 2008. C. Since? 1950, U.S. exports have decreased from about 11 percent of GDP to about 4 percent in 2008. D. Each? year, the U.S. exports less than 10 percent of many agricultural crops such as wheat. E. Since? 1950, U.S. exports have decreaseddecreased and U.S. imports have increasedincreased.
Typical consumption taxes create an incentive to save
Indicate whether the statement is true or false
Which of the following statements is an example of normative economic analysis?
A) Pollution regulations have raised the cost of production for energy companies. B) As the wage rate increases, companies are hiring fewer workers. C) Improvements in technology have reduced the time needed to manufacture automobiles. D) Tablet computers should be manufactured in countries that do not restrict internet access to their citizens.
The difference between GNP and GDP is
A) GNP includes income received from abroad and excludes income paid abroad. B) GNP excludes income received from abroad and includes income paid abroad. C) GNP includes exports and imports. D) GNP excludes exports and imports. E) GNP includes capital flows received from abroad and excludes capital flows to foreign countries.