ECON 205 Lecture (1.16.2008)

ECON 205 Lecture (1.16.2008) - Income tax Corporate income...

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ECON-205 Lecture #2 1-16-2008 TA: Jacqueline Smith Email: smith2@usc.edu Office: KAP 363, Cube #20 Imports. Why? - Cheap labor - We don’t have it here - Consumer choice o Want to satisfy consumer taste - International cooperation o Quota system Government sets limit Department of Commerce decides on this Father of Economics = Adam Smith - Capitalism o Smith said that capitalism should be based on competition Better quality, choice o Pure competition David Ricardo - Taxation - Published book in 1822 – Political Economy of Taxations Government - Federal o Revenue
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Unformatted text preview: Income tax Corporate income tax Excise tax o Expenditures Defense Education Welfare Health-State o Revenue Sales tax Income tax Corporate income tax o Expenditures Education 2/3 of economic growth due to education Infrastructure ECON-205 Lecture #2 1-16-2008-City o Revenue Property tax Fees Sales tax Traffic tickets o Expenditures Education 911 (Emergency) Health Parks Malthus- Found that population doubled every ten years...
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This note was uploaded on 09/26/2009 for the course ECON 205 taught by Professor Kamrany during the Spring '07 term at USC.

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ECON 205 Lecture (1.16.2008) - Income tax Corporate income...

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