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July 13, 2025 

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REVENUE EFFECT: The goal of imposing taxes to generate revenue used to finance the operation of government, most notably to finance the provision of public goods. This is one of two reasons, and the primary reason, that governments impose taxes. The other reason is the allocation effect. Governments work the revenue effect because they need access to income and resources to build highways, defend the nation, educate the population, and maintain the legal system. They purchase these resources with tax revenue generated through the revenue effect.

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CURRENT GDP: The total market value, measured in current prices, of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. The key is that current gross domestic product is measured in current, or actual prices; the prices buyers actually pay for goods and services purchased. Current gross domestic product is also termed nominal gross domestic product.

     See also | gross domestic product | inflation | price level | GDP price deflator | nominal | real | current gross domestic product | constant gross domestic product | nominal gross domestic product |


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CURRENT GDP, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 13, 2025].


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ALLOCATION EFFECT

A change in the allocation of resources caused by placing taxes on economic activity. By creating disincentives to produce, consume, or exchange, taxes generally alter resource allocations. The allocation effect is typically used when governments seek to discourage the production, consumption, or exchange of particular goods or activities that are deemed undesirable (such as tobacco use or pollution). This is one of two effects of taxation. The other (primary) is the revenue effect, which is the generation of revenue used to finance government operations.

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Today, you are likely to spend a great deal of time at a crowded estate auction trying to buy either a decorative windchime with plastic or a flower arrangement for that special day for your mother. Be on the lookout for slightly overweight pizza delivery guys.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
"To sit back and let fate play its hand out, and never influence it, is not the way man was meant to operate."

-- John Glenn, astronaut, U.S. senator

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