Which of the following taxes is based on the ability-to-pay principle?
a. tolls on a bridge
b. income taxes
c. gasoline excise taxes
d. property taxes
e. user fees that collect the same amount from each person
B
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In their calculation, concentration ratios take barriers to entry into a market into consideration
Indicate whether the statement is true or false
When price is above marginal cost, selling one more unit at the current price will increase profit. This concept is known as the
a. income effect. b. price effect. c. output effect. d. cartel effect.
Briefly describe some of the demographic trends that are predicted to increase the government's budget deficit
When a government subsidizes the sale of milk, cooperative surplus ________ and society gets ________
A) increases; richer B) increases; poorer C) decreases; richer D) decreases; poorer