The U.S. income tax is based on the principle of
a. cost of service.
b. benefit received.
c. ability to pay.
d. equality of sacrifice.
c. ability to pay.
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How do we arrive at a Nash equilibrium in a matrix game?
What will be an ideal response?
The equilibrium point represents the only price-quantity combination in a market that
a. causes both buyers and sellers to agree to a price increase b. causes both buyers and sellers to agree to a price decrease c. exactly matches the independent plans of buyers and sellers d. allows buyers to purchase what they want e. allows sellers to earn a profit
Voters' Ordered PreferencesAbbyBobCarloPublic parksPublic zooPublic transportationPublic zooPublic transportationPublic parksPublic transportationPublic parksPublic zooIf a pair-wise majority vote was held and the voters' preferences are shown in the table, which option would win overall?
A. It is impossible to predict which option would win. B. Public zoo C. Public transportation D. Public parks
Refer to the graphs shown.
The maximum profits that an efficient monopolist that produces a profit-maximizing quantity could earn is best shown by the area:
A. A in graph (1). B. A + B in graph (1). C. C in graph (2). D. C + D in graph (2).