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REAL WAGE: The inflation-adjusted purchasing power of the nominal wage. The real wage is commonly derived by dividing the nominal wage by the price level, indicates the physical quantities of goods and service that can be purchased with the nominal wage.
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PROPORTIONAL TAX: A tax in which people pay the same percentage of income in taxes regardless of their incomes. Here's an example of a proportional tax -- You earn $10,000 a year and your boss gets $20,000. You pay $1,000 in taxes (10 percent) and your boss pays $2,000 in taxes (10 percent). While a proportional tax would seem to make a lot of sense, very few taxes are designed to be proportional and even fewer come out that way in practice. The reason is often attributable to the ongoing battle between the second and third estates. Each side wants the other to pay a larger share of taxes. See also | tax | income | income tax | income | regressive tax | progressive tax |
Recommended Citation:PROPORTIONAL TAX, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: April 20, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: proportional tax
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NET EXPORTS The difference between exports--goods and services produced by the domestic economy and purchased by the foreign sector--and imports--goods and services produced by the foreign sector and purchased by the domestic economy. These are one of four aggregate expenditures on gross domestic product. The other three are consumption expenditures, investment expenditures, and government purchases.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time strolling through a department store trying to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for telephone calls from long-lost relatives.
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John Maynard Keynes was born the same year Karl Marx died.
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"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. " -- Muhammad Ali
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M1
currency and coins held by the nonbank public plus checkable deposits issued by traditional banks, savings and loan associations, credit unions, and mutual savings banks
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