To meet their obligation under the Kyoto Protocol, member countries of the European Union (EU) in 2005 devised
a. a universal carbon tax
b. a GHG trading program
c. an EU-wide subsidy program for electric cars
d. none of the above
b. a GHG trading program
You might also like to view...
Crowding out refers to the fall in
a. investment spending caused by higher taxes b. consumption spending caused by higher taxes c. consumption spending caused by higher levels of government spending d. government spending to do a balanced budget amendment e. private investment caused by an increase in government spending
According to the ability-to-pay principle, it is fair for people to pay taxes based on their ability to handle the financial burden
a. True b. False Indicate whether the statement is true or false
By looking at the graph for payroll tax, we can see that the wages a worker actually gets paid after the payroll tax is ______.
a. lower than they would receive without the payroll tax
b. higher than it was before the payroll tax
c. immune to any effects of the payroll tax
d. reduced by a small fraction of the firm’s share of payroll tax
One major assumption of economics is that people
A) act as if they systematically pursue self-interest. B) behave randomly without any predictable pattern. C) are sometimes rational and sometimes irrational. D) always pursue the interests of others.