According to the "fair rules" view of fairness, are taxes fair? Explain
What will be an ideal response?
Taxes are unfair according to the fair rules view because they are an involuntary transfer of private property. While most economists and most people support fair taxation, there is little agreement on what constitutes a fair tax.
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What will happen to the equilibrium price and quantity of cars if there is an increase in the price of gasoline?
What will be an ideal response?
Exhibit 30-3 Costs of Eliminating:Firm A Firm B Firm C 1st ton of pollution$ 30 $ 50 $ 600 2nd ton of pollution$ 70 $ 90 $ 700 3rd ton of pollution$125 $150 $ 900 4th ton of pollution$200 $250 $1,300 Refer to Exhibit 30-3. What is the cost to Firm C of eliminating 2 tons of pollution?
A. $1,300 B. $300 C. $1,500 D. $2,200 E. $3,500
A closed economy is an economy that:
A. does not interact with other economies. B. publishes its financial information to the public. C. collects tax revenue. D. has free trade relationship with other countries.
Which are the main trading partners of the United States?
(A) Germany, Great Britain, China, and France. (B) Canada, Mexico, China, and Japan. (C) The Middle Eastern countries. (D) The Central American countries.