"For goods that are unrelated in consumption, efficiency requires that tax rates be inversely proportional to elasticities." This is the definition of
A. the benefits-received principle.
B. the Ramsey Rule.
C. the second best principle.
D. the inverse elasticity rule.
D. the inverse elasticity rule.
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If U.S. interest rates are rise relative to foreign interest rates, in the foreign exchange market the demand for U.S. dollars will decrease
Indicate whether the statement is true or false
The production period in which at least one input is fixed in quantity is the
A) production run. B) long run. C) short run. D) planning horizon.
Which of the following is NOT a transfer payment?
A) Medicare B) Social Security retirement payments C) Social Security disability payments D) spending on national defense
How did families manage to keep up their standard of living in the 1970s and 1980s in the face of falling real wages?
A. They went on welfare and food stamps. B. They tightened their belts. C. They sent their stay-at-home mom to work. D. They went into debt.