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PERSONAL INCOME TAX: A tax on individual income. This is the primary source of revenue for the federal government, a big source for many state and local governments, and the reason most people dread April 15th. In principle, personal income taxes are progressive, based on a graduated tax scale. However, it's much more proportional today than it was several decades ago.
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Lesson 9: Macro Basics | Unit 3: Business Cycles
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- Business cycles, which are recurring expansions and contractions of the aggregate economy.
- Expansions as general increases in economic activity and contractions as general decreases in economic activity.
- An expansion is associated with low or falling unemployment and high or rising inflation, and a contraction is associated with high or rising unemployment and low or falling inflation.
- Some business cycle causes: consumption, investment, government purchases and taxes, net exports, money, and resource supply considerations.
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SUPPLY PRICE The minimum price that sellers are willing and able to accept for a given quantity of a good. While sellers might be willing and able to accept more than the supply price for a given quantity, they are not willing and able to accept less. The supply curve is a plot of the supply price for each quantity.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either a tall storage cabinet with five shelves and a secure lock or a birthday greeting card for your grandmother. Be on the lookout for slightly overweight pizza delivery guys.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"Use, do not abuse; neither abstinence nor excess ever renders man happy." -- Voltaire, philosopher
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CME
Chicago Mercantile Exchange
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