The idea that individuals should be taxed in proportion to the marginal benefits that they receive from public goods is called
A) the horizontal-equity principle. B) the ability-to-pay principle.
C) the benefits-received principle. D) the vertical-equity principle.
C
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What is the "quantity demanded"?
A) the amount of a good people desire B) the amount of a good people are able and willing to buy during a specific time period and at a given price C) the amount of a good people are able and willing to buy at all possible prices D) the maximum amount of a good that can be consumed during a specific time period E) the minimum amount of a good that people are willing to buy during a specific time period and at a given price
Assume goods X and Y are substitutes. An increase in the price of X would cause the demand for Y to increase
Indicate whether the statement is true or false
The switch from AFDC to TANF took place in
A. 1937. B. 1986. C. 1996. D. 1998.
Suppose that a large and a small wind turbine have similar installation, operating, and maintenance costs, but a large turbine has four times the generating capacity but costs less than three times as much as a small turbine. The wind power industry faces:
A. constant returns to scale. B. economies of scale. C. diseconomies of scale. D. a hump-shaped cost curve.