One of the problems associated with the utilitarianism is that it does not recognize that
A) taxing those with higher incomes results in less work effort.
B) each individual receives a different marginal benefit from a dollar's worth of income.
C) equity is achieved when there is no poor and no rich.
D) similar individuals should be treated the same.
A
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What are property rights?
A) the title to ownership of any physical asset B) the rights individuals or firms have to the exclusive use of their property, including the right to buy or sell it C) a legal document verifying ownership of intangible assets D) the right of the government to appropriate private assets for the good of society
A unit tax
A) is based on the value of the good being sold. B) is a constant tax assessed on each unit of a good sold. C) is the primary tax studied in dynamic tax analysis. D) does not influence equilibrium price and quantity.