“People who make more money should pay higher taxes” is an example of
A. the benefits principle.
B. horizontal equity.
C. vertical efficiency.
D. the ability-to-pay principle.
Answer: D
Economics
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Technically speaking, average revenue is
a. price × marginal revenue b. total revenue/quantity c. total revenue/total cost d. marginal revenue/marginal cost e. price × marginal cost
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