The Laffer curve‚ named after the economist Arthur Laffer‚ is a curve that demonstrates the trade-off between tax-rates and tax-revenues (Wanniski 1978). It is used to illustrate the concept of taxable income elasticity‚ the idea that a government can maximise the revenue by setting the tax rates at an optimum point. This curve can be traced back as far as 1844 to a French economist Jules Dupit who in 1844 found similar effects as Laffer did (Laffer 2004). Dupit also saw tax revenues rising from
Premium Tax Taxation Progressive tax
up is how income inequality is getting worse and worse. The Koch brothers were raised in a rich discriminating household. Their father owned the oil empire‚ putting 100 billion dollars in the Koch brother’s pockets making them rich oil barons. In general‚ the Koch brother’s want to buy America by paying others to listen to them and bribing council members with money for a total of at least 400 million dollars. From 2010 to 2014‚ the Koch brother’s spent at least 144 million on ads. In 2009 they tried
Premium United States John D. Rockefeller Standard Oil
The Bathtub Curve and Product Failure Behavior Part One - The Bathtub Curve‚ Infant Mortality and Burn-in by Dennis J. Wilkins Retired Hewlett-Packard Senior Reliability Specialist‚ currently a ReliaSoft Reliability Field Consultant This paper is adapted with permission from work done while at Hewlett-Packard. Reliability specialists often describe the lifetime of a population of products using a graphical representation called the bathtub curve. The bathtub curve consists of three periods: an
Premium Failure Time
Bombay The long-run cost curve (LTC) is composed of a series of short-run cost curves. Assumes that the firm has only one plant‚ with the corresponding short-run cost curve given by STC1‚ Suppose the firm decides to add two more plants with associated two more short-run cost curves given by STC2 and STC3. Prof. Trupti Mishra‚ School of Management‚ IIT Bombay The long-run total cost curve (LTC) is then drawn through the minimum of the short-run cost curves‚ STC1‚STC2‚ and STC3. The
Premium Marginal cost Costs Economics of production
for General Patton‚ Brigadier General Oscar Koch developed and employed early Intelligence Preparation of the Battlefield (IPB) practices‚ laying the groundwork for the modern intelligence cycle. Koch’s disciplined approach fused traditional and non-traditional intelligence sources and established the forward-leaning‚ product-driven intelligence process used today (Confidence‚ n.d.). Throughout campaigns in North Africa and Europe during World War II‚ Koch honed the intelligence mission into a dynamic
Premium World War II Military Army
Limitations of the Lorenz Curve The Lorenz Curve illustrates the degree of equality (or inequality) of distribution of income in an economy. It plots the cumulative percentage of income received by cumulative shares of the population and includes a straight line to illustrate perfect income equality. Thus‚ the closer the Lorenz curve is to the straight line‚ the greater the equality in income distribution‚ while‚ the further away it is from the straight line‚ the more unequal the distribution
Premium Income Economic inequality Lorenz curve
MANAGEMENT ACCOUNTING APPLICATIONS The learning curve: from aircraft to spacecraft? instructions‚ the components‚ and how to assemble them. In addition‚ you may also lack confidence in your ability to produce an acceptable product. The second one‚ however‚ will take you less time‚ as you will be more familiar with the instructions‚ the components‚ and the assembly procedures. You will also be confident of your ability to assemble this product. The third one will take even less time‚ as you will
Premium Learning curve
1. Under the von Neumann architecture‚ a program and its data are both stored in memory. It is therefore possible for a program‚ thinking a memory location holds a piece of data when it actually holds a program instruction‚ to accidentally (or on purpose) modify itself. What implications does this present to you as a programmer? Ans: The programmer should taken proper care so that the program doesn’t modify itself when programming. for example if a program location holds an instruction and later
Premium Computer
“demand curve”. (b) Assess what information may be helpful to the strategic marketer in order to determine demand. (c) Discuss the factors that may create a fluctuation in demand. The demand curve is the graph depicting the relationship between the price of a certain commodity and the amount of it that consumers are willing and able to purchase at that given price. It is a graphic representation of a demand schedule. The demand curve for all consumers together follows from the demand curve of every
Premium Supply and demand
The Bell Curve The opinions of Herrnstein and Murray in their book‚ The Bell Curve is that human intelligence is both inherited and also has environmental factors that contribute to a person’s future in many different areas such as; finances‚ a career‚ when they start a family‚ and whether or not a person will break the law instead of a person’s level of education and economic status. The authors go on to say that the more intelligent people of society are keeping their distance from the less
Premium Intelligence quotient Intelligence Theory of multiple intelligences