The notion that similar taxpayers should pay similar amounts of taxes is known as
a. vertical equity.
b. the benefits principle.
c. horizontal equity.
d. taxpayer efficiency.
c
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Refer to the above table. Suppose one country has a per capita real GDP of $1000 and another has a per capita real GDP of $10,000, or ten times larger. If both countries have a growth rate of 5 percent, how much larger will per capita real GDP be in the second country be than the first after 50 years?
A) 8 times larger B) 5 times larger C) 10 times larger D) 4 times larger
Which of the following is FALSE regarding bilateral monopoly?
A) Bilateral monopoly is a market structure consisting of a monopolist and a monopsonist. B) Bilateral monopoly is defined as a market structure in which a single buyer faces a single seller. C) An example of bilateral monopoly is a state education employer facing a single teachers' union in the labor market. D) The price outcome is easily determined.