The concept of equity would explain the redistribution from the rich to the poor which is achieved from a tax system that requires taxes to
A. be unrelated to income.
B. remain stable when income rises.
C. fall when income rises.
D. rise when income rises.
Answer: D
You might also like to view...
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point A to Point E, the opportunity cost of motorcycles, measured in terms of hybrid cars
A. remains constant. B. decreases. C. initially increases, then decreases. D. increases.
Under fixed exchange rates
A) monetary policy is not an effective policy. B) fiscal policy is not an effective policy. C) monetary policy and fiscal policy are not effective. D) both monetary and fiscal policies are effective. E) monetary policy has an unpredictable effect on the domestic money supply.
Assume that the supply curve for tomatoes is upward sloping. If the price per pound increases from $0.99 to $1.89, a greater quantity of tomatoes will be supplied to the market
a. True b. False Indicate whether the statement is true or false
If Country A can produce a good at a lower opportunity cost than Country B can,
a. there are benefits from trade b. Country A has an absolute advantage in producing the good c. economic efficiency has been achieved d. Country A does not have a comparative advantage in producing the good e. Country A can sell the good for a higher price abroad