The issue of fairness in taxes is a very controversial one. Compare and contrast both the ability-to-pay principle with that of the benefits received principle
What will be an ideal response?
There is much disagreement over what constitutes a fair tax system. One theory contends that people should bear tax burdens in proportion to the benefits that they receive from government expenditures. This is the benefits-received principle. Another theory contends that people should bear tax burdens in line with their ability to pay. This ability-to-pay principle has dominated U.S. tax policy.
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The Federal Reserve does all of the following except
A) make loans to individuals B) influence the supply of money C) influence the value of mone D) regulate the banking system
The property of _____ implies that a consumer always prefers to consume more of either good, holding the consumption of the other good constant
a. monotonicity b. transitivity c. relativity d. reflexivity