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FEDERAL TRADE COMMISSION ACT: This antitrust law passed in 1914 created the Federal Trade Commission to clarify which practices and activities were illegal under antitrust laws. The Federal Trade Commission Act was one of three major antitrust laws passed in the late 1800s and early 1900s. The other two were the Sherman Act and the Clayton Act. In particular, the Federal Trade Commission was responsible for setting the standards for what constituted unfair competition and for investigating business activities that might lead to monopolization of a market or restraint of trade. The Whealer-Lea Act, passed in 1938, was a major amendment t the Federal Trade Commission Act.
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PROGRESSIVE TAX: A tax in which people with more income pay a larger percentage in taxes. A progressive tax is given by this example -- You earn $10,000 a year and your boss gets $20,000. You pay $1,000 in taxes (10 percent) and your boss pays $4,000 in taxes (20 percent). Our income tax system is designed to be progressive, but assorted loopholes and deductions keep it from being as progressive in practice as it is on paper. See also | tax | income | income tax | income | regressive tax | proportional tax |
Recommended Citation:PROGRESSIVE TAX, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: December 17, 2018].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: progressive tax
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TWO-SECTOR KEYNESIAN MODEL A Keynesian model of the macroeconomy that includes the two private sectors, the household sector and the business sector. This Keynesian model variation, often termed the basic Keynesian model or the private sector Keynesian model, captures the interaction between induced consumption expenditures and autonomous investment expenditures. This model is commonly used to illustrate the basic workings of Keynesian economics, including equilibrium, disequilibrium, and the multiplier. Equilibrium is identified as the intersection between the C + I line and the 45-degree line. Two related variations are the three-sector Keynesian model and the four-sector Keynesian model.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway looking to buy either a flower arrangement with anything but tulips for your grandfather or a birthday greeting card for your mother that doesn't look like a greeting card. Be on the lookout for pencil sharpeners with an attitude.
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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"When I look back on all these worries, I remember the story of the old man who said on his deathbed that he had had a lot of trouble in his life, most of which had never happened. " -- Winston Churchill, British statesman
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MPP
Marginal Physical Product
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