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Unformatted text preview: determinants of demand normal goods inferior goods substitute good complementary good change in demand change in quantity demanded supply supply schedule law of supply supply curve determinants of supply change in supply change in quantity supplied equilibrium price equilibrium quantity surplus shortage price ceiling price floor functional distribution of income personal distribution of income durable goods nondurable goods services plant firm industry sole proprietorship partnership corporation negative externalities positive externalities public goods free-rider problem government purchases transfer payments personal income tax marginal tax rate average tax rate payroll taxes corporate income tax sales and excise taxes property taxes...
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- Spring '11