Current Issues
This computer activity is designed to assist you in determining and understanding
the factors which influence the level of economic activity in the U.S.
economy
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The National Bureau of Economic Research (NBER) determined that the 2001
recession ended in November 2001.
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When did this recession begin?
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What is a recession, and what statistics does the NBER review in order
to determine whether the economy is in a recession or not?
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Income taxes have an impact on the current level of consumption and, therefore,
on the nation's level of economic activity. The current U.S. federal government
income tax system is a progressive tax system.
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What is a progressive
tax system?
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There are two main reasons why a progressive tax system is used. What is
the second reason given for implementing a progressive tax system? Do you
agree with this reason for using a progressive tax system? Why or why not?
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A few years ago several members of Congress suggested that the progressive
income tax stsem be replaced with a "flat tax."
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What is a flat
tax?
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What type of tax is a "flat tax" - progressive, proportional or regressive?
What does it mean to be this type
of tax?
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Recently several members of Congress have suggested that the progressive
income tax sysem be replaced with a "fair tax."
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What is a "fair
tax?"
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What type of tax is a "fair tax" - progressive, proportional or regressive?
What does it mean to be this type
of tax?
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Which type of tax - progressive, proportional, or regressive - do you think
will have the most adverse effect on consumption? Why?
McConnell
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Last updated October 27, 2004
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jbremer@oakton.edu