【正文】 c. a disincentive against certain behaviors. wealth tax: 財(cái)產(chǎn)稅 property tax, capital transfer taxes and capital gains taxes are sometimes referred to as wealth taxes. value added tax: 增值稅 a form of tax paid on products and services at each stage of production or distribution, based on the value added at that stage and included in the cost to the ultimate customer. capital gains tax: 財(cái)產(chǎn)收益稅 taxes placed on profits from the sale of investments or real estate. capital levy: 資產(chǎn)稅 a tax on capital rather than ine, and is collected once rather than annually. corporate ine tax:企業(yè)所得稅 a tax based on the ine, or profit, received by a corporation. business tax:營業(yè)稅 A tax levied at the point of sale and based on the retail price of a good or service. consumption tax:消費(fèi)稅 Taxes levied on the consumpti。 this process is known as economic growth. High Employment, Low Unemployment ―The unemployment rate tends to reflect the state of the business cycle: When output is falling, the demand for labor falls and the unemployment rate rises.‖ Economics by Paul Samuelson Stable Prices The most mon measure of the overall price level is CPI, which measure the cost of a fixed basket goods 9ncluding such as food, shelter, clothing, and medical care) bought by the average urban consumer. We cal changes in the level of prices the rate of inflation. A deflation occurs when prices decline while a hyperinflation denotes a rise in the price level of a thousand or a million percent a year. 2. Tools of Macroeconomic Policy A policy instrument is an economic variable under the control of government that can affect one or more of the macroeconomic goals. There are two major instruments of macroeconomic policy: fiscal policy and moary policy. Fiscal Policy It denotes the use of taxes and government expenditures. Government expenditures e in two distinct forms: government purchases (including spending on goods and services and government transfer payment) and taxation. Government expenditures determine the public consumption and affect the overall level of spending in the economy and thereby influence the level of GDP Taxation affects the overall economy in two ways. Firstly taxes affect people’s ine by leaving households more or less dispensable ine. In addition, taxes affect the prices of goods and factors of production and thereby influence incentives and behaviors. Moary Policy Moary policy is conducted through the management of a nations money, credit, and banking system. By changing the money supply, the government can regulate the amount of money available to the economy. Restricting money supply leads to higher interest rate, and reduced investment, which, in turn, cause a decline in GDP and lower inflation. Supplementary Knowledge: There are four levels of economic integration in the world, given below in the order from least to most integrative: 1) Free trade area 自由貿(mào)易區(qū) 2) Customs union 關(guān)稅同盟 3) Common market 共同市場 4) Economic union 經(jīng)濟(jì)同盟 Types of integration Free Movement of goods and services Same external trade policies Free movement of factors of production Same domestic policies Free trade area yes no no no Customs union yes yes no No Common market Yes yes yes no Economic union yes yes yes yes Supplementary Knowledge: Main regional economic integration ASEN: Association of Southeast Asian Nations (1967) EU: European Union (1993) NAFTA: North American Free Trade Agreement (1994) lesson 6 Tax and Taxation Leadingin Activities: do tax and taxation refer to respectively? A tax is an involuntary fee paid by individuals or businesses to a state, or to functional equivalents of a state. Taxation refers to the imposition of taxes. 2. What’s the main functions of taxation? a. revenue for public expenditures。 參考譯文： A fundamental question raised today is: does nationality still matter, now that the largest MNCs are being global operators? From a government’s point of view and with respect to the national security issue, it would not be realistic to threat foreign and domestic panies alike, but that is probably not the main concern here. The central issue relates to petitiveness efficacy of government policy in a globalizing world. Can one still define the national interest in a context where MNCs site major parts of their economic activities in different parts of the world? What policy should be conducted by the host country? Does an American pany doing most of its Ramp。越來越多的為一個特定國家增加財(cái)富的活動正在其疆域外展開。 而另一個外國公司，總部不在美國，但通過在美國設(shè)立的分支機(jī)構(gòu)，雇傭的美國員工比外國人還多。關(guān)鍵在于在一個日益全球化的世界中政府政策的有效性和競爭性。 unlimited liability of more serious nature. relatively difficult to start. Cooperative: A memberowned business with membership open to those who use its services. Democratically controlled and operated on a nonprofit basis, a cooperative returns any margins or profits to members on the basis of patronage. Question 6 Why is monopoly power considered undesirable? ※ a monopoly is defined as a persistent market situation where there is only one provider of a kind of product or service. It usually leads to a control on the supply of products and a substantial rise in price, thus a lack of petition and a lack of viable substitute goods . Question 7 What’s monopolistic petition? ※ monopolistic petition is a market structure with many firms selling a differentiated product, with low barriers to entry and exit in the industry. It is like monopoly in that the firm has some control over the price it charges since products are differentiated. Yet, since there are many sell