Vertical equity incorporates the notion that
A. those earning higher incomes should pay more in taxes.
B. those earning equal incomes should pay the same in taxes.
C. taxes paid should be unassociated with income levels.
D. there should be no excess burden created by a tax.
A. those earning higher incomes should pay more in taxes.
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All of the points on a budget line result in combination of goods that expend all of her income.
Answer the following statement true (T) or false (F)
The consumer maximizes his total utility (measured in money terms) when, at his chosen quantity of every good he buys, marginal utility
A. equals zero. B. divided by price equals zero. C. equals price. D. equals total utility.
The stimulus package of 2009 had the effect of
A) causing higher rates of inflation to occur. B) giving new foreign aid to help less developed countries. C) significantly raising the debt to GDP ratio. D) reducing the primary government deficit.
The Exxon Valdez oil spill was an exception to the rule. It was the only major environmental disaster in the 1980s
Indicate whether the statement is true or false