Chapter 2: Project Cash Flows The definition, identification, and measurement of cash flows relevant to project evaluation. Study objectives After studying this chapter the…

proportional tax percentage of income paid in tax is the same regardless of income level     progressive tax higher percentage rate of taxation on those with higher…

Chapter 9 Sources of Government Revenue Section 1 Why do we need taxes?? Taxes are required to raise money to run the federal, state, and local governments Taxes influence…

Keynesian view Discretionary versus non-discretionary fiscal policy The automatic stabilizers Fiscal policy to close a contractionary gap. Fiscal policy to close an expansionary…

Final Lecture TOPICS Introduction In this lecture we will use some of what we have learned to answer some important recent questions of the day: How is the tax system designed…