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Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050

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BuyFindarrow_forward

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050
Textbook Problem

Categorize each of the following funding schemes as examples of the benefits principle or the ability-to-pay principle.

a. Visitors to many national parks pay an entrance fee.

b. Local property taxes support elementary and secondary schools.

c. An airport trust fund collects a tax on each plane ticket sold and uses the money to improve airports and the air traffic control system.

Sub part (a):

To determine
The categorization of the given scenarios under benefit principle and ability to pay principle.

Explanation

In many national parks, many visitors need to pay entrance fees...

Sub part (b):

To determine
The categorization of the given scenarios under benefit principle and ability to pay principle.

Sub part (c):

To determine
The categorization of the given scenarios under benefit principle and ability to pay principle.

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