The ability-to-pay principle claims that a person should pay taxes according to
a. the level of public education that the person has received throughout his lifetime.
b. how many government services that person will receive.
c. how well that person can shoulder the tax burden.
d. the level of debt that the person has.
c
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XYZ Co operates in a competitive market. Its production function is q = L?K?. The exponents, ? and ?, are both less than 1. The firm's capital is fixed, and it takes the wage and price as given
Derive the firm's short-run demand for labor as a function of K, w, and p. How does the firm react to an increase in the wage rate?
The price to attend a NBA basketball game in Chicago is $55 while the CPI in Chicago is 153. The CPI in Charlotte is 108 while the price to attend a NBA basketball game is $52
Which city offers a smaller real cost of attending a NBA basketball game?
What does the Herfindahl-Hirschman Index value near zero imply about the market?
a. Monopoly b. Perfect competition c. Monopolistic competition d. Oligopoly
Interest rates are determined by the
A. market supply and demand for loanable funds. B. rental rate of capital. C. marginal revenue product of physical capital. D. physical depreciation of capital.