The concept of vertical equity is that
a. income should be taxed instead of property.
b. property should be taxed instead of income.
c. there should be little movement up or down the social scale.
d. persons who are unequal should be treated unequally.
d
You might also like to view...
A country has an aggregate production function of the form: Y = A x K1/3 x H2/3
Which of the following is likely to happen if the capital stock and the efficiency units of labor available to the country increases by 10% over a span of 5 years while the state of technology used in the country remains the same? A) Output will increase by 5%. B) Output will double. C) Output will increase by 10%. D) Output will increase by 1%.
According to Classical interest rate theory, which of the following will increase the equilibrium interest rate?
A) A decrease in investment B) A decrease in saving C) An increase in money demand D) A decrease in money demand
If increasing returns is in effect
A) average costs rise. B) marginal costs rise. C) marginal costs fall. D) average revenue is constant.
Economists who believe that market concentration is not harmful to a country's economic well being
a. favor laissez-faire government policies b. think that markets should be regulated c. think that the government should own those monopolies d. like the idea of price controls e. are nonexistent