Horizontal equity incorporates the notion that
A. those earning higher incomes should pay more in taxes.
B. those earning equal incomes should pay the same in taxes.
C. taxes paid should be unassociated with income levels.
D. there should be no excess burden created by a tax.
B. those earning equal incomes should pay the same in taxes.
You might also like to view...
When congressional representatives vote on an appropriations bill, they must vote yea or nay, taking the bad with the good. This statement best reflects the:
A. paradox of voting. B. regulatory capture effect. C. benefits-received principle. D. concept of limited and bundled choices.
A nation has a comparative advantage in producing a good, if
A. more people in the country are employed in the production of the good than in other countries. B. it has either a greater productivity advantage or a smaller productivity disadvantage. C. it has a higher standard of living than its trading partners. D. it also has an absolute advantage in producing the good.
Suppose you can get broadband only from your cable company or your phone company. This market would be described by
A. monopolistic competition. B. monopoly. C. oligopoly. D. perfect competition.
The short-run industry supply curve for a perfectly competitive industry is the
A. horizontal sum of the individual firms' marginal cost curves above ATC. B. vertical sum of the individual firms' marginal cost curves above ATC. C. horizontal sum of the individual firms' marginal cost curves above AVC. D. vertical sum of the individual firms' marginal cost curves above AVC.