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miks miks
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5 years ago

Question 1.

All of the following occur whenever a government taxes a product except

• the quantity consumed of that product falls.

• the price of that product rises.

• the marginal benefit of the last unit sold exceeds the marginal cost of producing it.

• there will be no excess burden if the government's tax revenue is sufficiently large to offset the deadweight loss.

Question 2.

The "ability-to-pay" principle of taxation is the normative idea that

• an equitable tax system is one in which high income individuals should bear a greater burden of taxes than low income individuals.

• each individual should voluntarily contribute according to her ability to pay taxes.

• progressive taxes are more equitable than regressive taxes.

• two individuals earning the same income should have equal ability to pay, all else constant.
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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jrhome1985!jrhome1985!
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5 years ago
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miks Author
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5 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
Brownr40
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Yesterday
Helped a lot
bkrandy
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2 hours ago
Smart ... Thanks!
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