The equity criteria of taxation are best explained as: (i) When my salary increases, my tax contribution must decrease. (ii) Households that earn the most income should pay the most taxes. (iii) Residents in a poor neighbourhood pay less tax than residents in a rich neighbourhood because they receive less services. a. Only (iii) is correct b. (ii) and (iii) are correct c. (i) and (ii) are correct d. Only (i) is correct e. Only (ii) is correct A justification for government intervention in the economy arises from the fact that market systems usually produce _____ outcomes, but they do not necessarily produce _____ outcomes. a. quantitative; qualitative b. efficient; profitable
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