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TAXES: Any sort of forced or coerced payments to government. The primary reason government collects taxes is to get the revenue needed to finance public goods and pay administrative expenses. However, the more astute leaders of the first estate have recognized over the years that taxes have other effects, including--(1) redirecting resources from one good to another and (2) altering the total amount of production in the economy. As such, taxes have been used to correct market failures, equalize the income distribution, achieve efficiency, stabilize business cycles, and promote economic growth.
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AXIOM A basic precondition or assumption underlying a theory. Axioms are basic, unverifiable world view assumptions--including personal beliefs, political views, and cultural values--that form the foundation of a theory.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store seeking to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for gnomes hiding in cypress trees.
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John Maynard Keynes was born the same year Karl Marx died.
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"Defeat is simply a signal to press onward." -- Helen Keller, lecturer, author
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EMA
Econometrica
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