Author Question: Chelsea buys bottled water from the vending machine for 1.00. As long as the transaction was ... (Read 123 times)

Wadzanai · **on:** Jun 29, 2018

Chelsea buys bottled water from the vending machine for 1.00. As long as the transaction was voluntary,

A) Chelsea values the water more than 1.00.
B) the vendor values the water less than 1.00.
C) the vendor's wealth has increased.
D) Chelsea's wealth has increased.
E) All of the above.

Question 2

Refer to the scenario above. Which family pays the lowest percentage of its income as taxes if the government follows a progressive tax system?

A) The first household
B) The second household
C) The third household
D) The fourth household