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KEMP-ROTH ACT: Officially titled the Economic Recovery Tax Act of 1981, this was a cornerstone of economic policy under President Reagan. The three components of this act were: (1) a decrease in individual income taxes, phased in over three years, (2) a decrease in business taxes, primarily through changes in capital depreciation, and (3) the indexing of taxes to inflation, which was implemented in 1985. This act was intended to address the stagflation problems of high unemployment and high inflation that existed during that 1970s and to provide greater incentives for investment. A primary theoretical justification is found in the Laffer curve relation between tax rates and total tax collections.
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PROFIT CURVE A curve that graphically represents the relation between the economic profit earned by a firm and the quantity of output sold. This curve is constructed to capture the relation between profit and the level of output, holding other variables, especially those affecting the total revenue and total cost curves, constant. The profit curve is commonly used to illustrate the profit-maximizing quantity of output produced by a firm.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at an auction looking to buy either a wall poster commemorating the moon landing or storage boxes for your winter clothes. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"In order to create there must be a dynamic force, and what force is more potent than love." -- Igor Stravinsky, violinist
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TSP
Time Series Econometrics (software)
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