The benefits-received principle of taxation is most evident in:
a. progressive tax rates.
b. the corporate income tax.
c. the personal income tax.
d. excise taxes on gasoline.
d
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In the above figure, a price floor of $4
A) leads to a shortage. B) leads to a surplus. C) has no effect. D) shifts the demand curve leftward.
When using the principle of comparative advantage, the person with no absolute advantage should perform the job in which he or she has
a. a 50 percent disadvantage. b. a 75 percent disadvantage. c. a lesser disadvantage. d. been trained.
Which of the following words and phrases best captures the notion of equality?
a. minimum waste b. maximum benefit c. sameness d. efficiency
The word "monopolistic" in the label "monopolistic competition" refers to the fact that:
A. there is only one firm producing in the market. B. firms have no control over the price they charge. C. each firm produces a slightly different version of the product. D. None of these