Econ Ch6 & Ch7 - Econ Ch.6 (Continued) 10/11/10 Tax...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Econ Ch.6 (Continued) – 10/11/10 Tax Rates: I. 1. ATR = T/I 2. MTR = T/ I II. 1. Progressive 2. Proportional 3. Regression III. Two Principles: - Ability to Pay – you should pay for a service b ecause you have the m on ey to pay for it. - Benefit Received – ev en if you claim not to have the m on ey, if you b en efit from it you should p ay for it. Chapter 7 1. The Unemployment Rate is still 9.6% , not of the total population, rather of the labor force. - no chang e from the previous month The purpose of calculating the une m ploym ent rate is to check how well or how poorly the econo my is doing. 2. How does the govern m ent calculate this? – Bureau of Labor Statistics (BLS): 1. Total U.S. population: i. under 16 are excluded ii. Retirees are excluded iii. Full Time Students are excluded iv. The military are excluded v. Institutional inmates: 1. mental 2. prison vi. Homemakers 2. The Working Age = Total U.S. population – all the exclusions 3. Civilian Labor Force (CLF) 1. Employed
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/09/2011 for the course ECON 201 taught by Professor Coomber during the Fall '08 term at Community College of Baltimore County.

Page1 / 3

Econ Ch6 & Ch7 - Econ Ch.6 (Continued) 10/11/10 Tax...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online