Taxation of agricultural land at a lower rate than commercial property might be justified _____
a. on utilitarian grounds
b. on the benefit principle
c. on the ability-to-pay principle
d. on efficiency grounds
b
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Which of the following is a normative question about an initiative to impose a new tax?
A.All of the above are normative considerations. B. What is the expected impact on producers and consumers? C. How much revenue is the tax expected to raise? D. Is the tax considered to be in the public interest?
In 2011, Armenia had a real GDP of approximately $4.21 billion and a population of 2.98 million. In 2012, real GDP was $4.59 billion and population was 2.97 million. From 2011 to 2012, Armenia's standard of living ________
A) increased B) decreased C) did not change D) might have increased, decreased, or remained unchanged but more information is needed to determine which