Problemadam smith stated that taxes should involve, Ask an Expert

Economics

Problem

Adam Smith stated that taxes should involve taxpayers in equality of sacrifice. Progressive taxes are related to the ability to pay, so that people on higher incomes pay a higher percentage rate of tax on each additional pound earned than do those on lower incomes. In what way does the law of diminishing marginal utility provide a justification for the use of progressive taxes?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92762114

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question - george ragsdale sells new cars for seekins ford

Question - George Ragsdale sells new cars for Seekins Ford. George usually sells the largest number of cars on Saturday. He has developed the following probability distribution for the number of cars he expects to sell o ...

Question there are three industrial firms in happy

Question: There are three industrial firms in Happy Valley: Firm A- Pollution Level=70 Units Cost to reduce Pollution=$20/Unit Firm B- Pollution Level=80 Unites Cost to reduce Pollution= $25/Unit Firm C- Pollution Level= ...

Question some large power plants are mine-mouth facilities

Question: Some large power plants are mine-mouth facilities, located at the opening of the coal mine that will supply their fuel. In areas with few coal mines, both the power plant and the mine are likely to be under the ...

Question what do isoquants look like if there are no

Question: What do isoquants look like if there are no substitution possibilities at all, for example, if making a one-pound cake requires precisely three eggs and three cups of flour? The response must be typed, single s ...

Question - for the following questions write whether the

Question - For the following questions write whether the statements are true or false and give full justification for your answer. (a) For a given income level, it is not possible to have both good 1 and good 2 as luxury ...

Question - the figure illustrates the average total cost

Question - The figure illustrates the average total cost (ATC) and marginal cost (MC) curves for an apple farmer. Assume the market for apples is perfectly competitive. If the market price for apples is $66.00 per crate, ...

Question in no-fault insurance anyone involved in an

Question: In no-fault insurance, anyone involved in an accident is compensated for losses, regardless of who actually caused it. What do you expect will happen to the volume of auto accidents if no-fault insurance replac ...

1 intertemporal trade and durable consumption goodssuppose

1. Intertemporal trade and durable consumption goods Suppose that a representative individual in a small open economy lives for infinite periods. The individual enters each period t(t = 0, 1, 2, ...) holding foreign asse ...

Question try to reflect on the ethical implications of

Question: Try to reflect on the ethical implications of price discrimination. Write Reflecting upon the ethical implications of price discrimination. What criteria of fairness would you apply to pricing? Is price discrim ...

Quesiton mobile social networking is the next frontier in

Quesiton: Mobile social networking is the next frontier in technology as companies race to adapt platforms like Facebook to our cell phones. 1. What do you see as the opportunities and the threats as we inevitably move t ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert