According to the horizontal-equity principle of taxation
A) individuals who receive the benefits of a good or service should bear a greater share of the tax burden.
B) people in the same economic situation should be treated equally.
C) individuals who are willing to bear a greater share of the tax burden should be compensated with non-monetary benefits.
D) individuals who are most able to pay should bear a greater share of the tax burden.
B
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In the classical model, a temporary increase in government purchases causes the new equilibrium to have
A) more employment and a lower real wage than before. B) more employment and a higher real wage than before. C) less employment and a lower real wage than before. D) less employment and a higher real wage than before.
In the broadest sense, economics is the study of
a. production methods. b. how society manages its scarce resources. c. how households decide who performs which tasks. d. the interaction of business and government.