A congress member concerned about ensuring vertical equity in taxation would be most likely to argue for obtaining government revenue through a
A. progressive tax on personal income.
B. regressive tax on corporate income.
C. sales tax.
D. head tax.
Answer: A
Economics
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In a world of scarcity, there has to be some way to ration the available resources. According to economists, the most efficient use of available resources occurs when rationing occurs via
A) queuing. B) lotteries. C) political power. D) the price system.
Economics
The industry demand for labor in a competitive labor market
a. is the same as the individual demand for labor in a perfectly competitive market b. is a horizontal curve at the market wage rate c. slopes upward when there are diminishing returns d. is the sum of the individual firms' demand curves for labor e. is downward sloping only if all firms that employ labor are identical
Economics