As conflicts between principles of taxation are normative in nature, _____
a. agreement is easily reached
b. disagreement cannot easily be resolved
c. the benefit principle should be the proper default
d. the Pareto criteria should be used instead
b
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Price supports are a form of price ceiling for agricultural products that lowers prices for consumers and enhances market efficiency.
Answer the following statement true (T) or false (F)
Economic freedom requires
A) that there are no regulations and restrictions set on businesses and households by the government. B) the rule of law and the ability to enforce the laws. C) strong labor unions. D) freedom to bribe government officials. E) that the government be a democracy.
Suppose A and B are substitute goods. Other things being equal, the demand curve for A will shift to the right when the price of B goes down
a. True b. False Indicate whether the statement is true or false
While taxes create deadweight losses in otherwise allocatively efficient markets, a corrective tax actually eliminates the deadweight loss caused by the pollution externality
a. True b. False Indicate whether the statement is true or false