Test 2 Study guide
Last Modified: 2011-06-25
Related Textbooks:Macroeconomics with MyEconLab XL Access Kit (3rd Edition)
based on a monthly survey of 5,000 households
occasionally be helpful in predicting sudden shifts in consumption patterns
measures to affect unemployment, GDP, cons and prod confidenceTaxes, Transfer payments
Looser Monetary Policy, Expansionary Fiscal Policy
Tighter Monetary Policy, Contractionary Fiscal Policy
- Raise tax Revenue
- be fair
- influence behavior: excise tax on spirits
ppl with more income should pay more in taxesRegressive Tax: high-income tax payers pay less than low-income payers.
Progressive Tax: high-income payers pay more than low-income payers
Proportional Tax: everybody pays the same fraction of income
idea that taxpayers w/ similar abilities to pay taxes should pay the same amts.Marriage Tax: couple pays as single taxpayer
After-tax Real Interest Rate:
do not influence a person's decision on how much to work
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