According to the horizontal-equity principle of taxation
A) individuals who receive the benefits of a good or service should bear a greater share of the tax burden.
B) people in the same economic situation should be treated equally.
C) individuals who are willing to bear a greater share of the tax burden should be compensated with non-monetary benefits.
D) individuals who are most able to pay should bear a greater share of the tax burden.
B
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The time it takes for policymakers to obtain and to understand the data and to change the policy instrument based on that information is known as ________, respectively
A) the data, recognition, and effectiveness lags B) the recognition, data, and effectiveness lags C) the data, recognition, and implementation lags D) the recognition, implementation, and effectiveness lags E) the data, implementation, and effectiveness lags
The text compares the macroeconomic performance of Great Britain and France immediately following Great Britain's departure from the ERM in 1992. What does it conclude?
A) The rate of growth of real GDP was higher in France than in Great Britain. B) The rate of growth of real GDP was lower in France than in Great Britain. C) The rates of growth of real GDP were equal in France and in Great Britain. D) GDP growth of both Great Britain and France increased dramatically after Great Britain withdrew from the ERM.
The economic functions of the government deal with
A. making sure supply equal demand. B. excess demand. C. promoting economic efficiency. D. discouraging smoking in youths.
Refer to the data provided in Table 17.2 below to answer the following question(s). The table shows the relationship between income and utility for Sue.Table 17.2 IncomeTotal Utility $00$20,00020$40,00040$60,00060$80,00080Refer to Table 17.2. Sue earns $40,000 annually. She has the opportunity to bet her entire salary on the upcoming super bowl. If Sue takes the bet, she will pick the Patriots. She believes that the Patriots have a 50-50 chance of winning the game. If the Patriots win, Sue will win $81,000 but if they lose she loses her entire salary ($0). Will Sue take the bet?
A. yes B. no C. maybe D. indeterminate from the given information