“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.
Answer: D
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When a variable can take on different values
a. it is a random variable b. it is a dependent variable c. it is an dummy variable d. it is an endogenous variable
Average variable cost is
a. the change in cost as output decreases b. the change in cost as output increases c. TC / quantity of output d. TVC / quantity of output e. AFC + AVC
Farms with sales of more than $250,000 account for __________ percent of U.S. agricultural sales.
Fill in the blank(s) with the appropriate word(s).
The system we use to measure the value of an economy is called:
A. national income accounting. B. national expenditure accounting. C. macroeconomic summation. D. national economic valuation.