macro economics chapter08.pptVIP

Copyright ? 2007 McGraw-Hill Australia Pty Ltd PPTs t/a Macroeconomics by Jackson and McIver Slides prepared by Muni Perumal 8-* Supply-side effect of fiscal policy ASLS Qp Price level Real gross domestic product AS1 AD2 Q1 AD1 P1 AS2 Q2 P2 P3 = Q3 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * Copyright ? 2007 McGraw-Hill Australia Pty Ltd PPTs t/a Macroeconomics by Jackson and McIver Slides prepared by Muni Perumal Copyright ? 2007 McGraw-Hill Australia Pty Ltd PPTs t/a Macroeconomics by Jackson and McIver Slides prepared by Muni Perumal Copyright ? 2007 McGraw-Hill Australia Pty Ltd PPTs t/a Macroeconomics by Jackson and McIver Slides prepared by Muni Perumal 8-* Chapter 8 Fiscal policy and the public debt Copyright ? 2007 McGraw-Hill Australia Pty Ltd PPTs t/a Macroeconomics by Jackson and McIver Slides prepared by Muni Perumal 8-* Learning objectives Briefly outline the nature of federal government expenditures and revenues Explain how a degree of economic stability is built into our tax system Survey some basic problems in the application of fiscal policy Copyright ? 2007 McGraw-Hill Australia Pty Ltd PPTs t/a Macroeconomics by Jackson and McIver Slides prepared by Muni Perumal 8-* Learning objectives (cont.) Briefly discuss several contrasting budget philosophies Assess the quantitative and qualitative aspects of the public debt Discuss the implications of and complications associated with fiscal policy within the aggregate demand–aggregate supply framework Copyright ? 2007 McGraw-Hill Australia Pty Ltd PPTs t/a Macroeconomics by Jackson and McIver Slides prepared by Muni Perumal 8-* Federal government finance Federal expenditures Large expenditure on social security and welfare Specific purpose grants Federal revenues Personal income tax 个人所得税 The centerpiece of the national tax system A progressive tax structure with the average and marginal tax rates increasing with income Company income tax Indirect and other taxes Goo