The Theory of Public Finance: A Study in Public Economy

ad valorem tax adjustments Allocation Branch apply assets assume assumption balanced budget benefits borrowing budget policy capital formation cent changes considered constant cost curve decline deficit defined demand depends determined Distribution Branch elasticity equal equation equilibrium level equity factor fiscal policy full employment function given incidence income effect income tax increase indifference curve intergeneration equity investor involves J. R. Hicks leisure lenders level of income liquidity loan finance marginal utility monetary money illusion money supply obtain output payments period preferences price level principle private investment problem profits progressive tax proportional tax public debt public expenditures public services purchase rate of growth rate of interest rate of tax ratio reduced required rate result rise saving schedule social wants Stabilization Branch structure substitution effect surplus tax rate tax yield taxation theory tion transfer various wage wealth effect