b. expanding aund c. encouraging business to expand or contract investment. d. d

Question

b. expanding aund c. encouraging business to expand or contract investment. d. decreasing government spending or increasing taxes. 21. "It would be an undue hardship to require people whose income is below $15,000 per year to pay income taxes." This statement reflects which of the following principles for a tax? a. Inexpensive-to-collect. b. Benefits-received. c. Fairness of contribution. d. Ability-to-pay 22. To finance a federal budget deficit, the U.S. Treasury borrows by selling: a. Treasury bills. b. Treasury bonds. c. Treasury notes d. All of these. Which of the following characterizes the classical view of the economy? a. Prices and wages are not flexible. b. The economy is inherently unstable c. The economy will "self-adjust" to full employment. 23. d. None of these. 3

Explanation / Answer

21 A ability to pay

22 All of these. ALL are used to meet deficit and provide revenue to govt.

23.c they believed in self adjustment

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