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TAX MULTIPLIER: The ratio of the change in aggregate output (or gross domestic product) to an autonomous change in a taxes. The tax multiplier is equal to the expenditure multiplier times the marginal propensity to consume. This is based on the only a fraction of the change in disposable income resulting from the change in taxes will result in a change in consumption expenditures. The tax multiplier can be used to indicate the change in fiscal policy induced government taxes are needed to achieve a given level of aggregate output (presumably full-employment output).
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"Only great minds can afford a simple style." -- Stendhal, writer
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EBIT
Earnings Before Interest and Taxes
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