"It would be an undue hardship to require people whose income is below $15,000 per year to pay income taxes." This statement reflects which of the following principles for a tax?
A. benefits-received
B. inexpensive-to-collect
C. ability-to-pay
D. fairness of contribution
Answer: C
You might also like to view...
Suppose the figure below shows the demand curve, marginal revenue curve and marginal cost curve for a monopolist. 
This monopolist maximizes its profit by producing ________ textbooks per week and charging a price of ________ per textbook.
A. 100; $40 B. 100; $80 C. 150; $40 D. 150; $20
Experience with the Phillips curve since the 1970s has shown that the:
a. curve can be used as a reliable model to guide public policy. b. relationship between the inflation rate and the unemployment rate moves in a clockwise direction. c. curve is not stable. d. inflation rate and the unemployment rate are equal.
For an economy with only two goods, skate boards can be added to bicycles to compute the GDP by
A. Dividing dollar values of output by price and adding the result. B. Dividing output by price and adding the resulting dollar values. C. Multiplying output by price and adding the resulting dollar values. D. Multiplying dollar values of output by price and adding the result.
At the beginning of 2018, Albert planned to buy a new home theater system, laptop computer, and hybrid car by borrowing money. Albert already owes $9,000 on other loans. He also planned to buy a new iPod and humidor out of current income. A decrease in interest rates during 2018 will most likely
A. cause Albert to decide to borrow more money, but not change what he planned to spend on goods purchased with current income. B. cause Albert to decide to borrow less money and to spend less on goods purchased with current income. C. cause Albert to decide to borrow more money and to spend more on goods purchased with current income. D. cause Albert to decide to borrow less money, but not change what he planned to spend on goods purchased with current income.