March 21, 2018 

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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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GOVERNMENT SUBSIDIES: Transfer payments from the government sector to the business sector that do not involve current production. This is one component of the official entry government subsidies less current surplus of government enterprises found in the National Income and Product Accounts maintained by the Bureau of Economic Analysis that separates national income (the resource cost of production) and gross/net domestic product (the market value of production).

     See also | government sector | National Income and Product Accounts | Bureau of Economic Analysis | gross domestic product | net domestic product | national income | gross domestic product and national income | net domestic product and national income |

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A disruption of consumer equilibrium identified with utility analysis caused by changes in the preferences for a good, which likely results in a change in the quantities of the goods consumed. The change in preferences alters the marginal utility-price ratio and forces a reevaluation of the rule of consumer equilibrium.

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Today, you are likely to spend a great deal of time going from convenience store to convenience store trying to buy either a set of tires or a birthday gift for your grandfather. Be on the lookout for telephone calls from former employers.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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