Which of the following is not based on the benefits-received principle of taxation?
a. charging a fee for use of public golf courses
b. differences between residential and out-of-state college tuition
c. the excise tax on gasoline
d. toll booths on a highway
e. charging a fee per bag to haul away garbage
B
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Bonnie is debating whether to take a job as a professional therapist or a florist. She will earn $40,000 a year as a therapist or $30,000 a year as a florist. If she chooses to be a therapist, the opportunity cost is
A) $40,000. B) $30,000. C) $10,000. D) unable to determine.
Price elasticity of supply refers to the
a. change in supply that results from a change in demand b. percentage change in supply generated by a percentage change in demand c. change in price that results from a change in supply d. percentage change in price generated by a percentage change in supply e. percentage change in supply generated by a percentage change in price