The equality-of-sacrifice doctrine of taxation is based on the
a. increasing marginal utility of income.
b. increasing marginal utility of government transfer payments.
c. diminishing marginal utility of income.
d. diminishing marginal utility of government transfer payments.
c. diminishing marginal utility of income.
You might also like to view...
In a persisting demand-pull inflation
A) aggregate demand increases and potential GDP decreases. B) aggregate demand decreases and aggregate supply decreases. C) aggregate supply decreases and aggregate demand increases. D) aggregate supply increases and aggregate demand increases. E) None of the above answers is correct.
The above (incomplete) table provides information about the relationships between output and various cost measures. The marginal cost per unit when increasing output from 14 to 17 units is
A) $20. B) $30. C) $380. D) None of the above answers is correct.
What is meant by "tax incidence"?
What will be an ideal response?
The market demand for MP3 players is p = 50 - 0.5Q, and the marginal cost for an MP3 player is $10. If Nick receives 60% of the total profit, then
A) Nick will produce 50 MP3 players. B) Nick receives $500 as profit. C) total profit is $800. D) the efficiency in production is not achieved.