Compare and contrast horizontal and vertical equity
What will be an ideal response?
The principle of horizontal equity holds that those with equal ability to pay should bear equal tax burdens. The principle of vertical equity holds that those with greater ability to pay should pay more.
Economics
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In economics, items that are used to produce goods and services are known as
A) wants. B) aggregates. C) factors of need. D) resources.
Economics
One reason for international specialization in production is
a. a high tariff imposed by a national government b. a low tariff imposed by a national government c. diminishing returns to a variable factor of production d. the different resource endowments throughout the world e. high fixed costs of production
Economics