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VALUE-ADDED TAX: A tax on the extra value added during each stage in the production of a good. Most of the stuff our economy produces goes through several "stages," usually with different businesses. In each stage, resources do their thing to the good to make it a little more valuable. For example, an ice cream store can take 50 cents worth of ice cream, fudge, and whipped topping and turn it into a hot fudge sundae that's valued at $1.50. The efforts of the ice cream resources thus add $1 in value. A value-added tax is based on this extra value. While it's been debated off and on in the United States, a value-added tax is commonly used in Europe.
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GOVERNMENT PURCHASES DETERMINANTS Ceteris paribus factors, other than aggregate income or production, that are held constant when the government purchases line is constructed and which cause the government purchases line to shift when they change. Some of the more important government purchases determinants are fiscal policy and politics.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either a flower arrangement for your aunt or a birthday greeting card for your uncle. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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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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"It is the mark of an educated mind to be able to entertain a thought without accepting it." -- Aristotle
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BOA
Basic Ordering Agreement
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