Vertical equity refers to a tax system in which individuals with higher incomes pay more in taxes than individuals with lower incomes
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Use the following graph to answer the next question.
The graph shows the supply and demand for money where Dm1, Dm2, and Dm3 represent different demands for money and Sm1, Sm2, and Sm3 represent different levels of the money supply. The initial equilibrium point is A. What will be the new equilibrium point following a decrease in the money supply?
A. F B. B C. E D. I
Human capital is
A. how firms use more humans than machines in the production process. B. the accumulation of investments that make people more productive. C. more costly than other forms of capital. D. none of these answer options are correct.
When a producer is operating efficiently it is producing:
A. the good in which it has an absolute advantage. B. at a point on or under its production possibilities frontier. C. at a point on its production possibilities frontier. D. only one good.
Suppose the equilibrium price for pizza is $5 . If the government sets price at $4, the result would be
a. a shortage because at $4, the quantity demanded would exceed the quantity supplied b. a surplus because at $4, the quantity demanded would be less than the quantity supplied c. that the market would remain in equilibrium, but with a larger quantity bought and sold at $5 d. that at $4, the quantity sold would be greater than the quantity bought e. that at the equilibrium price of $5, fewer units would be sold