supply
the amount of product that could be brought at all possible prices
what is supply
arrangement in which workers are not required to join a union but must pay union dues
what is agency shop
Relatively high tax designed to raise revenue and reduce consumption of socially undesirable products
what is sin tax
A line-item budget expenditure that circumvents normal budget procedures and benefits a small number of people or businesses
what is pork
Point where the country would balance if it could be laid flat and if everyone weighed the same
what is Center of Population
Amount that producers bring to the market at any given price
what is Quantity Supplied
an association of skilled workers who perform the same kind of work
what is craft/ trade union
a complex tax on people’s earnings.
what is individual income tax
Part of the economy made up of federal, state, and local governments
what is a Public Sector
Number of births that 1,000 women are expected to undergo in their lifetime
what is a Fertility Rate
A graph showing the various quantities supplied at each and every price that might prevail in the market
what is a Supply Curve
a refusal to work until a certain demand is met
what is strike
simple tax levied on most consumer purchases
what is sales tax
part of the economy made up of private individuals and privately owned businesses
what is a private sector
The overall change in population caused by people moving into and out of the country
what is Net Immigration
Measure of the way in which quantity supplied responds to a change in price
what is Supply Elasticity
a mass refusal to buy products from targeted employers or companies
what is boycott
tax that imposes a higher percentage rate on persons with higher incomes than lower
what is progressive tax
payment for which the government receives neither goods no services in return
what is a Transfer Payment
Bar graph that shows the breakdown of population by age and gender
what is a Population Pyramid
A government payment to an individual, business, or other group to encourage or protect a certain type of economic activity
what is Subsidy
a state law making it illegal to force workers to join a union as a condition of employment
what is right-to-work law
tax that imposes a higher rate on persons with lower incomes than higher
what is regressive tax
A way in which income is allocated among families,individuals, or other designated groups in the economy
what is a Distribution of Income
The number of children and elderly people for every 100 persons in the working-age bracket of 18 through 64
what is Dependency Ration