Economics: Principles & Week 2 Practices (2007) textbook formative The Role of Government Explain the economic impact of taxes. Chapter 9 assessments on previous List the three criteria for effective day’s learning targets. The student will understand the taxes. roles of government in a market Understand the two primary Tax Bite Challenge principles of taxation. (Federal income tax, economy are the provision of Describe the importance of the Social Security and public goods and services, corporate tax structure. Medicare tax redistribution of income, protection Identify the other major sources of calculations) of property rights, and resolution of federal revenue. Differentiate between state and local Chapter 9 quiz- 20 market failures. revenue systems. multiple choice Explain how state governments questions Sources of Government Revenue collect taxes and other revenues. Interpret paycheck deductions. E.34 Describe major revenue and Discuss major tax feforms since 1980. expenditure categories and their Debate the advantages/disadvantages respective proportions of local, of a flat tax and a value-added tax. state, and federal budgets. Identify the three types of taxes. Describe the differences between the three types of taxes.
Week 2 The Role of Government The student will understand the roles of government in a market economy are the provision of public goods and services, redistribution of income, protection of property rights, and resolution of market failures. Sources of Government Revenue E.34 Describe major revenue and expenditure categories and their respective proportions of local, state, and federal budgets. Explain the economic impact of taxes. List the three criteria for effective taxes. Understand the two primary principles of taxation. Describe the importance of the corporate tax structure. Identify the other major sources of federal revenue. Differentiate between state and local revenue systems. Explain how state governments collect taxes and other revenues. Interpret paycheck deductions. Discuss major tax feforms since 1980. Debate the advantages/disadvantages of a flat tax and a value-added tax. Identify the three types of taxes. Describe the differences between the three types of taxes. Economics: Principles & Practices (2007) textbook Chapter 9 formative assessments on previous day’s learning targets. Tax Bite Challenge (Federal income tax, Social Security and Medicare tax calculations) Chapter 9 quiz- 20 multiple choice questions
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