Which of the following statements is not correct?
a. A gasoline tax can be an example of a tax that uses the benefits principle.
b. A progressive tax attempts to achieve vertical equity.
c. A progressive tax can be an example of the ability-to-pay principle.
d. A regressive tax attempts to achieve vertical equity.
d
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Suppose you hit a progressive jackpot on a 25-cent Fortunemaker slot machine in a casino in Las Vegas and are given the choice of the following prizes:
Prize 1: $200,000 to be received right away, with four additional payments of $200,000 to be received each year for the next four years. Prize 2: $750,000 to be received right away. If the interest rate is 3 percent, what is the present value of each prize?
Describe the difference between technology and positive technological change
What will be an ideal response?
Which of the following statements is false?
A) An implicit cost is a nonmonetary opportunity cost. B) Economists consider all costs to be implicit costs. C) Economic costs include both accounting costs and implicit costs. D) An explicit cost is a cost that involves spending money.
Under the assumption of rational expectations, an anticipated increase in the money supply has no effect on
A) nominal GDP. B) real GDP. C) the price level. D) velocity.