(财政学罗森第九版英文课件)Chap013Expenditure Programs for the
罗森财政学第七版（英文版）Chap013
罗森财政学第七版（英文版）Chap013CHAPTER 13 - Taxation and EfficiencyMultiple-Choice Questions1. An income effecta) is measured as the change in prices over time.b) is not possible when people are unemployed.c) requires interest rates to remain constant.d) is the change in the quantity demand, due to the fact that real income changeswhen prices change.e) is none of the above.2. Equivalent variation meansa) finding an equivalent change in income that puts a person on the same utility as achange in price would.b) finding equal tax rates that insure quantity demanded does not change.c) equalizing excess burden across all markets.d) moving the same distance in either direction from a starting point on anindifference curve.e) price variations that ensure quantity demanded does not change.3. The compensated demand curvea) shows how the quantity demanded changes when the price changes.b) shows how income is compensated, so that the individual’s commodity bundlestays on the same indifference curve.c) is sometimes referred to as the Hicksian demand curve.d) is all of the above.e) is none of the above.4. The slope of the production possibilities curve is thea) marginal rate of substitution.b) contract curve.c) offer curve.d) Engel curve.e) marginal rate of transformation.5. Lump sum taxesa) create no excess burden.b) are not as widely used as other forms of taxation.c) generally lack a sense of equity.d) are all of the above.e) are none of the above.6. The marginal rate of substitution isa) the slope of the utility curve.b) the slope of the contract curve.c) the slope of the utility possibilities curve.d) none of the above.7. Points on the same utility curve area) points where the person is indifferent between bundles on the line.b) points where utility is maximized.c) never possible.d) known as “points of light.”e) all of the above.8. In the double-dividend hypothesis, if the proceeds from a Pigouvian tax are used to________ income tax rates, then efficiency _________ in bothmarkets.a) increase; increasesb) reduce; reducesc) increase; reducesd) reduce; increasese) none of the above9. A tax that causes the price that producers receive for a commodity to deviate from thebuyer’s price isa) a unit tax.b) a compensated tax.c) an income tax.d) a price-distorting tax.10. Which of the following would be an example of a lump-sum tax?a) a compensated taxb) a retail sales taxc) a head taxd) an admission fee11. Which of the following is a unit excise tax?a) a tax of 15%b) an admissions fee of $2.00 on each ticket purchasedc) an ad valorem tax of $3.00d) an income tax of $3.00e) none of the above12. The economic incidence of a unit tax isa) generally borne by the buyers.b) generally borne by sellers.c) generally borne by the government.d) independent of the statutory incidence for the tax.e) none of the above13. Excess burden is largest witha) lump-sum taxes.b) unit taxes.c) no taxes.d) all of the above.14. When a demand curve is vertical, the elasticity of demand is equal toa) 0.b) 1.c) .d) -1.15. A tax wedge causesa) consumer prices to equal producer prices.b) producer prices to rise above consumer prices.c) consumer prices to separate from producer prices.d) all prices to fall.e) none of the above.Discussion Questions1. Refer to Figure 13.5 in your textbook. Suppose that the demand curve for barley can becharacterized by the equation X d = 26 –P/2. Suppose further that price was $10.00 and a $4.00 tax is imposed on the market.a) What is the amount of tax revenue generated by the tax?b) How much excess burden is generated by the tax?2. Refer to Figure 13.7 in your textbook. If the supply curve for labor can be written as L =w/2 –3/2 and the initial wage was $10, how much excessburden is created if there is a tax on wages of $2?3. Suppose the inverse demand curve for good A is given by the equation P A = 10 – Q A/10,and the supply curve is perfectly elastic (horizontal) at $1. Good A is presently taxed at $2 per unit. Good B (which is independent of good A) has an inverse demand curve, P B = 5 –Q B/20, and is also perfectly elastic at $1. Good B is untaxed.a) How much tax revenue is collected and what is the excess burden of the $2 tax onA?b) How much revenue is collected if the tax on good A is reduced to $1 per unit andgood B is taxed at $1 per unit?c) What is the total excess burden of taxing both goods at $1 per unit?d) Which tax system is preferable from the point of view of economic efficiency?4. Suppose that demand is perfectly inelastic. Supply is normal and upward sloping. Whatis the economic incidence of a unit tax placed on suppliers?5. Refer to Figure 13.8 in your textbook. If VMP mkt can be characterized by the equationVMP mkt= 50 –2H mkt, where H is the number of hours worked, and VMP home can be characterized by the equation VMP home = 45 –3H home, where H is the number of hours worked, what is H* if there are a total of 40 hours to be worked between work and home? True/False/Uncertain Questions1. When a single tax is imposed, the excess burden is proportional to the compensatedelasticity of demand and to the square of the tax rate.2. A lump sum tax can create an excess burden.3. The logic of the double-dividend hypothesis may not hold because the Pigouvian taxexacerbates pre-existing distortions in the labor market.4. Taxing in labor markets creates more excess burden than taxing in commodity markets.5. The differential taxation of inputs does not create an excess burden.6. Lump sum taxes do not distort behavior.7. Taxes that create an excess burden are bad.8. Excess burden calculations typically assume no other distortions.9. Unit taxes vary along with the price of the taxed commodity.10. Taxes impose an excess burden.Essay Questions1. Suppose you had to design an economic system for a country that had never existedbefore, like one of the former Soviet Union countries. What criteria would you consider to minimize the excess burden of the system of taxation?2. Equivalent variation is a method employed to measure excess burden. Comment on whya method such as compensating variation would not be appropriate for this analysis.3. Is it possible to design a tax that does all of the following:i) leaves behavior unchangedso that the quantity demanded of goods and services does not change, ii) creates no excess burden, iii) is not regressive, and iv) is welfare enhancing?Answers to CHAPTER 13 - Taxation and EfficiencyAnswers to Multiple-Choice Questions1. a2. a3. d4. e5. d6. a7. a8. d9. d10. c11. b12. d13. b14. a15. cAnswers to Discussion Questions1. a) Tax revenue generated is (4)(19) = 76.b) Excess burden is (1/2)(4)(2) = 4.2. Excess burden is the area of the triangle idh, which is (1/2)(2)(1) = 1.3. a) Tax revenue = (2)(70) =140. Excess burden = (1/2)(2)(20) = 20.b) Total tax revenue = (1)(80) + (1)(60) = 140.c) Total excess burden = (1/2)(20)(1) + (1/2)(10)(1) = 15.d) Both systems raise the same amount of tax revenue, 140, but the second systemdoes it with less excess burden, 15 < 20. Therefore, the second system would bemore efficient.4. The economic incidence of the tax falls entirely on the consumers.5. Setting the two equations equal to each other gives 50 –2H mkt = 45 –3H home and,keeping in mind the total time constraint, that H mkt + H home = 40 yields that H home * = 25 and H mkt* = 15.Answers to True/False/Uncertain Questions1. T2. F3. T4. U5. F6. T7. F8. T9. F10. UAnswers to Essay Questions1. Reducing excess burden would be critical, but there has to be a great deal of careinvolved in ensuring that the tax system is fair. This would be very important for a new country that has no institutional history to draw upon.2. Compensating variation measures the change in income that would be required to return aperson to his original utility curve after a commodity tax/subsidy had moved him from it.Equivalent variation measures the amount of income change that would be necessary to move a person to the same level ofutility that a commodity tax/subsidy moved him to. 3. No. Currently, it would be difficult to design a tax system that can do all of these things.。
罗森第九版英文《财政学》课件cha
05
Fiscal Policy and Economy
The goals and tools of Fiscal policy
Goal
Stabilize the economy, reduce unemployment, control inflation, and promote economic growth
and use funds
It encompasses the processes of investing, borrowing, saving, and insurance
Finance aims to maximize the value of assets while
minimizing financial risks
Scientific research …
funding for universities, research institutions, and enterprises
Public facilities
schools, hospitals, libraries, cultural centers, etc
A
B
Value added tax (VAT)
A consumption tax proposed on goods and services at each stage of production and distributionCDCorprate income tax
Charged on profits earned by companies
The course covers a wide range of topics, including the basic concepts of finance, financial markets and institutions, investment theory, corporate finance, and international finance It also explores the latest developments and trends in the financial industry
罗宾斯管理学第九版第二章（英文版）
高二语文必修1-必修4必背篇目测试一、必修至必修四上下句默写（20分）1.骐骥一跃，不能十步。
驽马十驾，功在不舍。
(荀子《劝学》)2.锲而舍之，朽木不折;锲而不舍，金石可镂。
(荀子《劝学》)3.句读之不知，惑之不解，或师焉，或不焉，小学而大遗，吾未见其明也。
(韩愈《师说》)4．清风徐来，水波不兴。
举酒属客，诵明月之诗，歌窈窕之章。
(苏轼《赤壁赋》)5．浩浩乎如冯虚御风，而不知其所止;飘飘乎如遗世独立，羽化而登仙。
(苏轼《赤壁赋》)6．乱石穿空，惊涛拍岸，卷起千堆雪。
江山如画，一时多少豪杰。
7.想当年，金戈铁马，气吞万里如虎。
《京口北固亭怀古》8.亦余心之所善兮，虽九死其犹未悔；路曼曼其修远兮，吾将上下而求索《离骚》9．剑阁峥嵘而崔嵬，一夫当关，万夫莫开。
《蜀道难》10.弟走从军阿姨死，暮去朝来颜色故。
门前冷落鞍马稀，老大嫁作商人妇。
二、必修至必修四情景式默写（60分）1．《氓》中与“青梅竹马”意境相仿的一句是：总角之宴，言笑晏晏。
2. 《氓》中通过写桑叶凋落喻指女子年华逝去的一句是：桑之落矣，其黄而陨。
3. 《氓》中写男子变化无常，三心二意的句子是：士也罔极，二三其德.4．《离骚》一文中以博大的胸怀，对广大劳动人民寄予深深同情的语句是：长太息以掩涕兮,哀民生之多艰。
5.《离骚》中用香草做比喻说明自己遭贬黜是因为德行高尚的两句：既替余以蕙纕兮,又申之以揽茝。
6.《离骚》中用大鸟和小鸟不合群来比喻说明自己绝不随波逐流的两句：鸷鸟之不群兮，自前世而固然。
7.《离骚》中屈原委婉表达自己后悔选择做官，想要归隐的两句：悔相道之不察兮，延伫乎吾将反。
8. 《赤壁赋》中概括了曹操军队在攻破荆州顺流而下的军容盛状的句子是：舳舻千里，旌旗蔽空。
9.苏轼在《赤壁赋》中慨叹“人生短促，人很渺小”的句子是：寄蜉蝣于天地，渺沧海之一粟。
10. 《赤壁赋》中写希望与神仙相交，与明月同在的句子：挟飞仙以遨游，抱明月而长终。
11．《蜀道难》的主旨句是：蜀道之难，难于上青天。
双语财政学第九版课件 (1)[14页]
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❖ Public finance is the field of economics that
studies government activities and the alternative means of financing government expenditures.
INDIVIDUALS, SOCIETY, AND GOVERNMENT
❖ Circular flow in the mixed economy (figure 1.2)
❖ -The upper and lower loops represent transactions between household and business firms in markets. Households use the income they earn from the sale of productive services to purchase the outputs of business firms.
Public Finance
(9th Edition)
Author: David N. Hyman
Chapter 1 ❖Individuals and government
In this text, you will study the role governments play in allocation resources and how individual choices influence what governments do. You also will study how government policies affect the incentives of workers, investors, and corporations to engage in productive activities.
公司理财罗斯英文原书第九版第二章
Financial Statements and Cash Flow
McGraw-Hill/Irwin
Copyright © 2010 by the McGraw-Hill Companies, Inc. All rights reserved.
Key Concepts and Skills
Usually a separate section reports the amount of taxes levied on income.
$86 $43 $43
2-13
U.S.C.C. Income Statement
Total operating revenues Cost of goods sold Selling, general, and administrative expenses Depreciation Operating income Other income Eห้องสมุดไป่ตู้rnings before interest and taxes Interest expense Pretax income Taxes Current: $71 Deferred: $13 Net income Retained earnings: Dividends: $2,262 1,655 327 90 $190 29 $219 49 $170 84
Deferred taxes Long-term debt Total long-term liabilities $117 471 $588 $104 458 $562
Total assets
$1,879
$1,742
Stockholder's equity: Preferred stock $39 $39 Common stock ($1 par value) 55 32 Capital surplus 347 327 Accumulated retained earnings 390 347 Less treasury stock (26) (20) Total equity $805 $725 Total liabilities and stockholder's equity $1,879 $1,742
公司理财罗斯英文原书第九版第十一章.ppt
Chapter Outline
11.1 Individual Securities 11.2 Expected Return, Variance, and Covariance 11.3 The Return and Risk for Portfolios 11.4 The Efficient Set for Two Assets 11.5 The Efficient Set for Many Assets 11.6 Diversification 11.7 Riskless Borrowing and Lending 11.8 Market Equilibrium 11.9 Relationship between Risk and Expected Return (CAPM)
The rate of return on the portfolio is a weighted average of the returns on the stocks and bonds in the portfolio:
r w r w r P B B S S
5 % 50 % ( 7 %) 50 % ( 17 %)
“Deviation” compares return in each state to the expected return.
“Weighted” takes the product of the deviations multiplied by the probability of that state.
1 1 1 E ( r ) ( 7 %) ( 12 %) ( 28 % S 3 3 3 E ( r ) 11 % S
Variance
Scenario
(财政学罗森第九版英文课件)Chap022Public Finance in a Federal System
Unconditional Grants
• Revenue sharing • Measuring Need
– Tax effort
22-27
The Flypaper Effect
• Whose indifference curves? • Median voter theorem • Flypaper effect
22-14
Incidence and Efficiency Effects – The Traditional View - Tax on Structures
Price per structure
PgB PnB = PP0B0B
PnL
Price paid by tenants increases by full amount of
E2 E1
G1 G2
B
R
Units of public good (G) per year
22-24
Conditional (Categorical) Grants
Matching Closed-Ended Grants
Consumption (c) per yearAFra bibliotekcc31
D E3 E1
G1 G3
the tax
B1
B0
SB
DB DB’
Number of structures per year
22-15
Summary and Implications of the Traditional View
• Progressivity
– Land tax – Structures tax
• Empirical evidence
罗森第九版英文《财政学》课件chap004
4-15
Public versus Private Production
• • • • • • Efficiency of private production Problems in comparing cost differences Incomplete contracts Competition to supply good or service Reputation building Policy Perspective:
– publicly provided private goods
• Public provision of a good does not necessarily mean that it is also produced by the public sector
4-4
Some Other Public Goods
• • • • Basic research Programs to fight poverty Uncongested non-toll roads Fireworks display
4-5
Efficient Provision of Private Goods
Price Adam (DfA) 5 7 9 11 13 Eve (DfA) 1 3 5 7 9 Market (DfA+E) 6 10 14 18 22
4-12
Laboratory Experiments and Free-Riding
• How a typical experiment works • Typical results
– People contribute about 50% of resources to provision of public good – Contributions fall the more often the game is repeated – Cooperation fostered by prior communication – Contribution rates decline when opportunity cost of giving goes up
罗森第九版英文《财政学》课件cha(2)
• Public provision of a good does not necessarily mean that it is also produced by the public sector
4-4
Some Other Public Goods
• Classification as a public good is not absolute; it depends on market conditions and the state of technology
– impure public good
• A commodity can satisfy one part of the definition of a public good but not the other
• MRSfa = Pf/Pa • Set Pa = $1 • MRSfa = Pf • DfA shows MRSfa for Adam • DfE shows MRSfa for Eve • Sf shows MRTfa • Necessary condition for Pareto efficiency:
MRSfaAdam + MRSfaEve = MRTfa
4-11
Problems Achieving Efficiency
• The Free-Rider Problem • Solutions to the free-rider problem
– Perfect price discrimination
• Some things that are not conventionally thought of as commodities have public good characteristics
罗森财政学复习资料(双语版)
罗森财政学复习资料（双语版）Unified budget:The document which itemizes all the federal government’s expenditures and revenues.统一预算：联邦政府在一种文件中将其支出逐项列出的文件Regulatory budget: an annual statement of the costs imposed on the economy by government regulations管制预算：政府管制对经济产生的成本Entitlement programs: programs whose expenditures are determined by the number of people who qualify ,rather than preset budget allocations.公民权利性计划：（是指有关社会保障、公共福利计划、农产品价格维持等法律规定受益人和收益数额的政府支出项目）项目的成本不是由固定的美元数额来决定，而是由符合条件的人的数量决定。
Substitution effect :the tendency of an individual to consume more of one good and less of another because of a decrease in the price of the former relative to the latter.替代效应：是指一种商品价格的变化所引起的使消费者调整该种商品和其他商品需求量比例的效应。
Income effect : the effect of a price change the quantity demanded due exclusively to the fact that the consmer’s income has changed收入效应：收入效应指由商品的价格变动所引起的实际收入水平变动，进而由实际收入水平变动所引起的商品需求量的变动。
(财政学罗森第九版英文课件)Chap022Public Finance in a Federal System
22-8
Advantages of a Decentralized System
• Tailoring outputs to local taxes • Fostering intergovernmental competition • Experimentation and information in locally
Incidence and Efficiency Effects – The Traditional View - Tax on Land
SL
– Combine communities under a single regional government – Pigouvian taxes and subsidies
• Division of responsibility in public good provision • Distributional goals and mobility
public services and taxes – There are enough different communities so that each individual can
find one with public services meeting her demands – The cost per unit of public services is constant so that if the quantity of
22-2
Distribution of All U.S. Expenditures by Government Level
22-3
Community Formation
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Work Incentives
The Basic Trade-offs
G – basic grant if not working
t – rate at which grant reduced when recipient earns money
B – benefit received
B = G – tE B = 0 if E = G/t
(财政学罗森第九版英文课件 )Chap013Expenditure Programs for
the Poor
A Quick Look at Welfare Spending
• Means-tested • Cash versus in-kind assistance • Anti-poverty impact of non-means-tested programs
– Experience rated
• Effects on Unemployment
13-19
Food Stamps and Child Nutrition
• How food stamps work • Foods stamps as an in-kind transfer • Participation rates
of inhabitants
13-21
Programs to Enhance Earnings
• Education
– Head Start
• Employment and Training
13-22
Overview
Marginal Tax Rate
$0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 $50,000 $55,000
13-4
Analysis of Work Incentives
D
|Slope| = w
Income per month
c
Time
Endowment 2w
b
w* a
0
T Hours of leisure per month
13-5
Analysis of Work Incentives
D
|Slope| = w
Source: Holt [2005, Part D, Figure 1].
Annual Earnings
13-23
New Ideas
• Replace current hodgepodge with single cash assistance program
• Benefit levels • Faith-based social services
13-20
Housing Assistances • Housing subsidies
– Section 8 certificates – Voucher programs
• Impact on stock of housing • Public housing and economic self-sufficiency
Income per month
G
Income
Leisure
0
E1
Work i
F
iii ii
T Hours of leisure per month
13-6
Analysis of Work Incentives
D
|Slope| = w
Income per month (= earnings + transfers)
13-11
Family Structure
• Marriage • Childbearing
13-12
National versus State Administration
• Race to the Bottom • State experimentation
13-13
Earned Income Tax Credit
13-2
TANF
• Aid to Families with Dependent Children (1935-96)
• TANF-Temporary Assistance for Needy Families (1996-?)
– No entitlement – Time limits – Work requirement – Block grants to states – Benefit reduction rates
D
Budget constraint with t = 100%
0 hours of
work
S
P1
selected P
R
G $338
0
F
T Hours of leisure per month
13-8
Analysis of Work Incentives
Income per month (= earnings + transfers)
This example is for 2008 for a married couple with two or more children.
13-14
Empirical Evidence: The Effect of the Earned
Income Tax Credit on Labor Supply • Labor force participation • Work hours
Figure 13.10: Estimated effective marginal tax rates for a one-parent, two-child household residing in Wisconsin (2000)
100% 80% 60% 40% 20% 0% -20% -40%
• How Medicaid works • Crowding Out • The Medicaid Notch • Medicaid and Health
13-17
The Medicaid Notch
Income per year
M D
Z 0
R
S
N
$1,000
X
T
Hours of leisure per year
13-15
Supplemental Security Income
• SSI versus conventional welfare
– Uniform minimum federal guarantee – Benefit levels – Work incentives
13-16
Medicaid
13-24
D E2
R G
Hours worked
0
M
P
T Hours of leisure per month
13-9
Work Requirements
• Workfare • TANF
– Mandated work
13-10
Time Limits
• Lifetime • Per spell of welfare
13-18
Unemployment Insurance
• Why does government insure against unemployment?
– Adverse selection – Moral hazard
• Benefits
– Gross replacement rate
• Financing
S
|Slope| = 3/4w
G
HoursHours Q
befoarfeter TANF
TANF
$100
0
VF K
T Hours of leisure per month
13-7
Analysis of Work Incentives
Income per month (= earnings + transfers)