ap economics mr. bernstein module 20: fiscal policy: the basics (p 202-204 and p 499) october 2015
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AP Economics
Mr. Bernstein
Module 20: Fiscal Policy: The Basics
(p 202-204 and p 499)
October 2015
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AP EconomicsMr. Bernstein
Expanded Circular Flow Diagram
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AP EconomicsMr. Bernstein
Governments and their economies
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AP EconomicsMr. Bernstein
Fiscal Policy• Taxes, USA, 2008
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AP EconomicsMr. Bernstein
Fiscal Policy• Government Spending
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AP EconomicsMr. Bernstein
Fairness and Taxation – what is a “Fair Share”?• Proportional Tax - one rate, regardless of income
level• No tax breaks for charity, home mortgage, etc.• Popularly labeled “Flat Tax”
• Progressive Tax – rates are higher for higher earners
• Regressive Tax – rates are higher for lower earners
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