Increasing production because of expectations that the economy will do well in the future is known as ______ investment.
a. expected
b. planned
c. unexpected
d. unplanned
b. planned
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"People who make more money should pay higher taxes" is an example of
a. the benefits principle. b. horizontal equity. c. vertical efficiency. d. the ability-to-pay principle.
Production is the process by which
A. resources are transformed into useful forms. B. resources are allocated and distributed. C. products are used by consumers. D. products are converted into capital.
A reduction in the redistribution of income:
A. Lowers the poverty rate for people B. Raises people's standard of living C. Results in more income inequality D. Results in less income inequality
When an investor sells an asset for a profit, then that profit is called a capital gain.
Answer the following statement true (T) or false (F)