Public FinanceThis work looks at the frontiers of contemporary research of public finance. It draws links between economic analysis and contemporary political issues. |
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after-tax allocation amount analysis argue asset assume before-tax behavior billion budget constraint capital gains Chapter commodity consumer surplus consumers consumption decisions deduction demand curve depends discussion dollar earnings econometric economists effect elasticity equal Equation equilibrium example excess burden expenditures externalities federal fig leaves Figure firms Hence horizontal important incentives incidence income tax increase indifference curve individuals inflation interest investment labor supply leisure marginal cost marginal tax rates maximize measured Medicare net wage opportunity cost optimal optimal tax output Pareto efficient payments percent person Pigouvian tax pollution preferences present value problem produce property tax purchase quantity rate of return receive reduce requires saving Social Security social welfare function spending subsidy supply curve Suppose tax incidence tax liability tax revenues tax system taxable income taxation theory tion United utility voter voting wage welfare economics workers