Lecture Microeconomics (20/e): Chapter 18 - Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

Chapter 18 - Public finance: Expenditures and taxes. This chapter addresses the main sources of government revenue and categories of government spending. We discuss and summarize the different philosophies regarding the distribution of a nation’s tax burden. We explain the principles relating to tax shifting, tax incidence, and the efficiency losses caused by taxes. It also discusses how the distribution of income between the rich and poor is affected by government taxes, transfers, and spending.