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
a
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If the price of ground beef falls, the demand for hamburger buns will
a. increase because the two goods are substitutes b. decrease because the two goods are complements c. decrease because the two goods are substitutes d. increase because the two goods are complements e. not change unless the price of hamburger buns also changes
Americans are creating an enormous amount of solid waste daily-over 4 pounds per person per day. How is the United States coping with this extraordinary problem?
Under the target price program,
A) the government ends up buying the surplus product that results. B) taxpayers pay the difference between the price consumers pay and the target price. C) deficiency payments are made to both rich and poor farmers. D) the surplus that results is sometimes dumped or otherwise wasted. E) b and c
As price increases, additional suppliers are willing to produce a commodity.
Answer the following statement true (T) or false (F)