According to the ability-to-pay principle of taxation
A) people in the same economic situation should bear an equal share of the tax burden.
B) individuals who are willing to bear a greater share of the tax burden should be compensated with non-monetary benefits.
C) it is fair to expect a greater share of the tax burden to be borne by people who have a greater ability to pay.
D) individuals who receive the benefit of a good or service should bear a greater share of the tax burden.
C
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In mid-2012 Delta increased the price of a New York to LA ticket by 10 percent. As a result of this price hike, there was a ________ shift in the demand curve for a ticket on Continental because the price of a ________ had risen
A) rightward; complement B) leftward; substitute C) leftward; complement D) rightward; substitute
Over the past year, productivity grew 1%, capital grew 2%, and labor grew 2%. If the elasticities of output with respect to capital and labor are 0.3 and 0.7, respectively, how much did output grow?
A) 1% B) 2% C) 3% D) 4%