Public Finance and the Price SystemMarket failure: public goods and externalities; Principles of expenditure analysis; Applications of expenditure analysis: food stamps and unemployment insurance; Financing medical care; Social security; Government and the distribution of income; Alternative policies to redistribute income; Public choice; Principles of tax analysis; The federal individual income tax; Federal tax reform; Federalism. |
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Page 279
... Supply and Demand Our conclusion that an excise tax leads to an increase in price equal to the tax per unit is valid ... curve ) industry , with an initial equilibrium at P1 and Q1 . A per unit excise tax shifts the supply curve to S + T ...
... Supply and Demand Our conclusion that an excise tax leads to an increase in price equal to the tax per unit is valid ... curve ) industry , with an initial equilibrium at P1 and Q1 . A per unit excise tax shifts the supply curve to S + T ...
Page 284
... supply and demand curves in the two markets for X and Y are shown as Sy , Dy ... curve of X up to Sx + Tx in Figure 10—4 ( b ) , so the quantity of X falls ... supply of resources to industry Y , which leads to lower wage rates , land ...
... supply and demand curves in the two markets for X and Y are shown as Sy , Dy ... curve of X up to Sx + Tx in Figure 10—4 ( b ) , so the quantity of X falls ... supply of resources to industry Y , which leads to lower wage rates , land ...
Page 314
... supply curve is vertical , the incidence of a proportional tax on labor income falls on workers who bear the full burden of the tax in the form of lower net rates of pay . If the supply curve is upward sloping , which will be true if ...
... supply curve is vertical , the incidence of a proportional tax on labor income falls on workers who bear the full burden of the tax in the form of lower net rates of pay . If the supply curve is upward sloping , which will be true if ...
Contents
The Nature of the Economic Effects of Policies | 2 |
Paternalism | 10 |
Equity | 16 |
Copyright | |
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Common terms and phrases
additional after-tax allocation analysis billion breakeven income budget constraint cash transfer consider consumer consumption corporation income tax deductions demand curve distribution earnings economic economists efficient equal equilibrium equity example excise subsidy excise tax external benefits federal Figure finance food stamp program free rider problem health insurance important in-kind transfers incentive incidence income effect income families increase indifference curve inefficient labor supply less low income lower major marginal benefit marginal cost marginal tax rate Medicaid ment money income net wage nonpoor nonrival output person political poor poverty line preferences price system produce progressive tax proportional tax purchase quintile receive recipients redistribution reduce result saving sector simply social security spend substitution effect supply curve Table tax base tax burden tax revenue taxation taxpayers tion unemployment unit voters voting wage rate welfare cost workers