The Theory of Public Finance: A Study in Public Economy

ad valorem tax adjustment Allocation Branch apply asset assume assumption benefit borrowing budget policy capital income cent changes concept considered constant consumer cost debt decline defined demand depends depreciation determined earnings Economic elasticity equal equation equilibrium equity excess burden excise tax finance fiscal function future consumption given growth income effect income tax increase indifference curve individual investment investor involves labor leisure marginal rate marginal utility measure money illusion money supply net wage obtain output payments period preferences price level principle private wants problem profits progressive tax proportional proportional tax public expenditures public services purchase rate of interest rate of tax reduced relative remains unchanged result rise saving schedule social wants substitution effect tax incidence tax rate tax yield taxation taxpayers theory tion transfer unit tax valorem tax various wage rate wealth effect welfare economics