Which of the following taxes is based on the ability-to-pay principle?
a. Road taxes paid by the buyers of gasoline
b. Progressive income taxes that pay for scientific research
c. Payroll taxes that pay for Social Medicare
d. Education taxes paid by parents
b
Economics
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Total fixed cost is the cost of
A) labor. B) production. C) a firm's fixed factors of production. D) only implicit factors of production. E) only explicit factors of production.
Economics
Suppose the production of paved roadways can be represented as q = L0.5 + K0.5. Which of the following statements is (are) TRUE?
A) Labor is subject to diminishing marginal productivity in the short run. B) Labor and capital are imperfect substitutes. C) The isoquants for paved roadways are convex. D) All of the above.
Economics