Which of the following best reflects the ability-to-pay philosophy of taxation?
A. An excise tax on coffee
B. An excise tax on gasoline
C. A progressive income tax
D. A tax on residential property
Answer: C
Economics
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Which of the following transactions takes place in factor markets?
A) Henry receives a commission from his employer for selling a new automobile. B) Jake purchases 1,000 shares of stock in the Wal-Mart Corporation through his online trading account. C) Sam enters the winning bid on a grand piano at a local auction. D) Justin receives $30 in exchange for mowing his neighbor's lawn. E) Lucille receives a $500 check from the U.S. Social Security Administration.
Economics
The Land Ordinance of 1787 provided that a state would be admitted to the Union when its population reached:
a. 5,000. b. 30,000. c. 60,000. d. 100,000.
Economics