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June 10, 2023 

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HORIZONTAL EQUITY: A system of taxes that treats equal people equally. In other words, if you make the same income as someone else and pay the same personal income taxes, then you have horizontal equity.

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LAGGING ECONOMIC INDICATOR: One of seven economic statistics that tend to move up or down a few months after the expansions and contractions of the business cycle. These statistics paint a pretty clear picture of what the economy was doing a few months back. Lagging economic indicators lag the turning points of the aggregate economy by 3-12 months. After a contraction begins, lagging indicators decline 3 to 12 months later. And 3 to 12 months after a expansion begins, lagging indicators rise.

     See also | economic indicators | leading economic indicator | coincident economic indicator | interest rate | Consumer Price Index | personal income | unemployment | business inventories |


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LAGGING ECONOMIC INDICATOR, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: June 10, 2023].


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AVERAGE FACTOR COST

Total factor cost per unit of factor input employed by a firm in the production of output, found by dividing total factor cost by the quantity of factor input. Average factor cost, abbreviated AFC, is generally equal to the factor price. However, using the longer term average factor cost makes it easier to see the connection to related terms, including total factor cost and marginal factor cost.

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PINK FADFLY
[What's This?]

Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for letters from the Internal Revenue Service.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
"No task is a long one but the task on which one dare not start: It becomes a nightmare. "

-- Charles Baudelaire, poet-critic

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