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Macroeconomics Lecture 2 National Income: Its Production
Macroeconomics Lecture 2 National Income: Its Production

... • Transfers are opposite of taxes, because the households’ disposable income is decreased by the tax, but increased by the transfers. • T=tax-transfer (tax is income for the state but transfer is expenditure) • If government purchases equal taxes minus transfers, then G = T, and the government has a ...
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... • Variable tax : a tax in which the amount paid is dependent on the value of some quantity that is within an individual’s control. • Lump-sum tax : a tax in which the amount paid is not dependent on any variables that are within an individual’s control. • Head tax: a lump-sum tax in which each perso ...
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Fiscal Policy, Deficits, and Debt

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... 2014, however, the ratio had fallen to 28.9% of GDP, reflecting lower levels of central government borrowing. External debt now represents 19.7% and domestic debt 9.2% of GDP. Although there are plans to increase infrastructure spending, as outlined in the 2012 budget, which provides for the constru ...
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Fall 2015 Practice Test #3 - MDC Faculty Web Pages

... 3. If a country's population increases at a higher rate than the growth in its real GDP: A) GDP per capita has increased. B) the standard of living in the country has declined. C) average output per person remains constant. D) the country's rate of inflation has increased. ...
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... vineyards etc.; 3. Industrial development: industries that use locally produced raw materials such as textiles, fertilizer, cement, coal, iron and steel, as well as development of special economic zones, using public-private partnerships; 4. Human capital and skills development: emphasis on science, ...
Practice Test - MDC Faculty Web Pages
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... public. Joseph is concerned that this will increase the demand for loanable funds, drive up interest rates, and leave less loanable money available for consumers and businesses. Joseph is concerned about the: A) boomerang effect. B) expansionary countereffect. C) ricochet effect. D) crowding-out eff ...
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... such services are worth paying for, the only way to do so is ultimately with tax revenue. Consequently, when thinking about the costs that taxes impose, it is essential to balance those costs against the benefits the nation receives from public services. ...
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Fiscal Policy, Deficits, and Debt

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Fiscal Policy, Deficits, and Debt

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... 2. Is it more accurate than using GDP as an indicator of development? How? 3. What does it show/not show and how useful is it to show how developed countries are? ...
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... Most U.S. workers and employers are required to participate in the Social Security system; the coverage rates are over 93% of the workforce. Over half of the workforce participates in voluntary supplemental plans to Social Security which fall in two categories: defined benefit (DB) and/or defined co ...
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... signs that there is declining interest in the purchase of housing. During the period being reviewed, a number of major policy measures were adopted in the area of housing. The goal of these steps, which were partly motivated by the social protest, is to make it easier to buy or rent a home. Improvem ...
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... • Change the exchange rate • Create inflation (print money) to deflate the value of your currency A devalued currency makes your exports cheaper • Other countries buy more of your goods Imports into your country become more expensive • Your citizens buy less from abroad ...
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... consumer confidence while credit spreads and movements in share prices and the exchange rate are used to gauge financial conditions. The forecast weighted-average interest rate vote for February is +9 bp, consistent with either three members voting for a quarter-point rise or four votes for a hike o ...
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PENSION FUNDS IN UKRAINE AND THEIR INVESTMENT OPPORTUNITIES
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... investments of PFs & life insurers into foreign securities; but it seems that NBU is not going to do it • The most likely is that foreign securities will be difficult to access for PFs in the near future ...
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슬라이드 제목 없음 - World Bank

... The government offers public assistance to the very poor who cannot participate in social insurance programs. It also provides welfare services for the disabled, seniors, and other underprivileged groups. National Basic Livelihood Protection Program  Target population - Families with income below t ...
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Homework 7- Fiscal Policy 1. Read the (EROP) Economic

... • What does OASIDI mean? What is the OASIDI tax rate? • What is the fundamental reason that social security (not medicare) is projected to run out of money under current law? When is the OASI trust fund projected to be exhausted under the intermediate cost projections? • What is the present value of ...
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Pensions crisis

The pensions crisis is a predicted difficulty in paying for corporate, state, and federal pensions in the United States and Europe, due to a difference between pension obligations and the resources set aside to fund them. Shifting demographics are causing a lower ratio of workers per retiree; contributing factors include retirees living longer (increasing the relative number of retirees), and lower birth rates (decreasing the relative number of workers, especially relative to the Post-WW2 Baby Boom). There is significant debate regarding the magnitude and importance of the problem, as well as the solutions.For example, as of 2008, the estimates for the underfunding of U.S. states' pension programs range from $1 trillion using the discount rate of 8% to $3.23 trillion using U.S. Treasury bond yields as the discount rate. The present value of unfunded obligations under Social Security as of August 2010 was approximately $5.4 trillion. In other words, this amount would have to be set aside today such that the principal and interest would cover the program's shortfall between tax revenues and payouts over the next 75 years.Some economists question the concept of funding, and, therefore underfunding. Storing funds by governments, in the form of fiat currencies, is the functional equivalent of storing a collection of their own IOUs. They will be equally inflationary to newly written ones when they do come to be used.Reform ideas are in three primary categories: a) Addressing the worker-retiree ratio, via raising the retirement age, employment policy and immigration policy; b) Reducing obligations via shifting from defined benefit to defined contribution pension types and reducing future payment amounts (by, for example, adjusting the formula that determines the level of benefits); and c) Increasing resources to fund pensions via increasing contribution rates and raising taxes.
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