A tax system based on the ability-to-pay principle claims that all citizens should
a. pay taxes based on the benefits they receive from government services.
b. pay the same amount in taxes.
c. pay taxes based on consumption rather than income.
d. make an equal sacrifice.
d
Economics
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Differentiate between the quantity effect and price effect of a price cut by a monopoly
What will be an ideal response?
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A country that has a comparative advantage in producing capital goods will ________ a country that has a comparative advantage in consumption goods
A) reap all of the gains from trade when it trades with B) grow slower than C) reap fewer of the gains from trade when it trades with D) specialize in producing capital goods and trade with
Economics