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HORIZONTAL EQUITY: A system of taxes that treats equal people equally. In other words, if you make the same income as someone else and pay the same personal income taxes, then you have horizontal equity.

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PHYSICAL WEALTH, AGGREGATE EXPENDITURES DETERMINANT

One of several specific aggregate expenditures determinants assumed constant when the aggregate expenditures line is constructed, and that shifts the aggregate expenditures line when it changes. A decrease in physical wealth causes an increase (upward shift) of the aggregate expenditures line. An increase in physical wealth causes a decrease (downward shift) of the aggregate expenditures line. Other notable aggregate expenditures determinants include consumer confidence, federal deficit, inflationary expectations, and exchange rates.

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Today, you are likely to spend a great deal of time at a garage sale wanting to buy either a 50-foot blue garden hose or a turbo-powered vacuum cleaner. Be on the lookout for the last item on a shelf.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
"Concentrate all your thoughts upon the work at hand. The sun's rays do not burn until brought to a focus."

-- Alexander Graham Bell, inventor

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