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PAYROLL TAX: A tax levied on the wage earnings, or payroll, of workers. The most notable, if nothing else in terms of sheer dollar amount, is the Social Security tax.
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Lesson 5: Market Demand | Unit 2: Law of Demand
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Page: 6 of 20
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An important question is: Why does the law of demand work? Two reasons are income effect and substitution effect. First, the income effect. This is the change in quantity demanded that results because a change in price gives a buyer more real income, even though money income remains unchanged. - The reason is that buyers have limited income.
- Any change in price affects the purchasing power of buyers' limited income. A higher price means a given income can buy less and a lower price means a given income can buy more.
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MACROECONOMIC GOALS Three conditions of the mixed economy that are most important for macroeconomics, including full employment, stability, and economic growth, that are generally desired by society and pursued by governments through economic policies.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either clothing for your pet iguana or a set of hubcaps. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"Lord, where we are wrong, make us willing to change; where we are right, make us easy to live with. " -- Peter Marshall, US Senate chaplain
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OOB
Opening of Business
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