"People who make more money should pay higher taxes" is an example of
a. the benefits principle.
b. horizontal equity.
c. vertical efficiency.
d. the ability-to-pay principle.
d
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The performance of diversified companies
A) is always greater than the performance of more narrowly focused firms. B) can be seen in greater economic profits. C) usually is greater than the overall economy. D) often simply mirrors the general economy.
When the supply of a good decreases and its demand increases by the same amount: a. Price will change in the same direction as the shift in demand
b. Price will change in the same direction as the shift in supply. c. Quantity exchanged will change in the same direction as the shift in supply. d. Quantity exchanged will change in the same direction as the shift in demand.
Which of the following can be categorized as a commodity money standard?
a. The pegged exchange rate standard b. The free float standard c. The managed float standard d. The reserve currency standard e. The gold standard
In the most basic model presented in the text, when aggregate expenditures cross the 45-degree line,
a. saving equals intended investment b. saving is greater than intended investment c. saving is less than intended investment d. saving equals consumption e. saving equals inventories