Which of the following would not lead to more conservation?
a. higher prices for a resource
b. increased interest rates on bonds
c. public awareness of increasing scarcity
d. higher taxes on goods produced using the resource
b
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Money is a convenience that makes the economic pie bigger
Indicate whether the statement is true or false
The ability-to-pay principle states that _____
a. individuals should pay taxes in proportion to their ability to pay b. individuals should not move to localities where they cannot pay the taxes c. individuals should not use government programs unless they contribute something in taxation d. individuals should pay taxes only if they benefit
For each of the following sets of supply and demand curves, calculate equilibrium price and quantity
a. QD = 1000 - P; QS = P b. QD = 1500 - 2P; QS = 100 + 2P c. QD = 2000 - 3P; QS = -300 + 3P
Expenditures, as a percentage of GDP for the United States, are not very different than those of other industrialized nations.
A. True B. False C. Uncertain