Explain whether or not the ability-to-pay principle of tax equity is consistent with the benefits received principle of taxation
Ability-to-pay assesses a higher tax on the wealthy, typically with progressively higher marginal tax rates. Benefits received makes those who receive more government benefits pay a higher tax. It is often the poor who receive more benefits, leading to a burden opposite of the ability-to-pay principle.
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Spending on consumer durables decreases as the interest rate increases
Indicate whether the statement is true or false
In order for you to consider steak and lobster to be perfect substitutes, their prices per pound must be identical
Indicate whether the statement is true or false
Brinley Thomas (1954) argues that immigrants were attracted to the United States between 1815 and 1914 for all of the following reasons except
(a) Harvest failures in the home countries of the immigrants (b) Organized labor opportunities, health benefits, safe working conditions and healthy work environments in the U.S. (c) European population increases, contributing to problems associated with more mouths to feed in a stagnant European economy (d) Increasing job opportunities in an expanding U.S. economy
Number of workersUnits of output0012525539541255150Table 8.2Refer to Table 8.2, which gives a firm's production function. Assume that all non-labor inputs are fixed. The marginal product of the fourth worker is:
A. 0 units. B. 10 units. C. 25 units. D. 30 units.