Vertical equity in taxation refers to the idea that people

a. in unequal conditions should be treated differently.
b. in equal conditions should pay equal taxes.
c. should pay taxes based on the benefits they receive from the government.
d. should pay a proportional tax rather than a progressive tax.

a

Economics

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The price elasticity of demand for a good is 0.2 . A 10 percent rise in the price will _______ the total revenue from sales of the good

A. decrease B. increase C. decrease the quantity sold with no change in D. not change

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