Adam Smith noted that when public expenditures are undertake for the general benefit of everyone in a society then _____
a. there is considerable conflict between the benefit principle and the ability-to-pay principle
b. there is no conflict between the benefit principle and the ability-to-pay principle
c. the benefit principle provides little guide to tax policy
d. the ability-to-pay principle provides little guide to tax policy
b
Economics
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a. often entails large opportunity costs. b. prevents waste of resources. c. often promotes fairness in distribution of resources. d. cannot occur in a planned economy.
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