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DEMAND DECREASE: A decrease in the willingness and ability of buyers to buy a good at the existing price, illustrated by a leftward shift of the demand curve. A decrease in demand results in a decrease in equilibrium quantity and a decrease in equilibrium price.
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Lesson 12: Business Cycles | Unit 5: Policies
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Page: 24 of 26
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Expansionary policies avoid or limit the problems of business cycle contractions.- Expansionary fiscal policy is increasing government spending or reducing taxes. More spending can offset the decline in investment, directly. Lower taxes leaves households with more income from consumption.
- Expansionary monetary policy is increasing in the amount of money in circulation. More money means more spending.
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TAXATION BASICS Taxes are mandatory payments from members of society to governments. The total tax revenue collected from a specific tax can be identified as the product of the tax rate times the tax base. The tax base can be specified as either a physical quantity or monetary value, giving rise to two types of tax per unit tax (quantity) and ad valorem tax (value). In some cases it is useful to specify a tax rate as an average tax rate and in other cases as a marginal tax rate.
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PINK FADFLY [What's This?]
Today, you are likely to spend a great deal of time surfing the Internet trying to buy either one of those memory foam pillows or a remote controlled train set. Be on the lookout for slightly overweight pizza delivery guys. Your Complete Scope
This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"The mediocre teacher tells. The good teacher explains. The superior teacher demonstrates. The great teacher inspires." -- William Ward ‚ Texas Wesleyan University Administrator
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NDP Net Domestic Product
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