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GOALS: Five basic conditions of the economy that are generally desired by society. They are typically divided into macro goals (full employment, stability and growth) and micro goals (efficiency and equity).
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HORIZONTAL EQUITY A tax equity principle stating that people with the same ability to pay taxes should pay the same amount of taxes. This is one of two equity principles related to the ability-to-pay principle. The other is vertical equity, which states that people with a different ability to pay taxes should pay a different amount of taxes.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales hoping to buy either a pair of gray heavy duty boot socks or a 50-foot blue garden hose. Be on the lookout for small children selling products door-to-door.
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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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"The ideals that have lighted my way, and time after time have given me new courage to face life cheerfully, have been kindness, beauty and truth. " -- Albert Einstein, physicist
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BAE
Bureau of Agricultural Economics
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