Economics – 5/08/2015

I.  Bellwork:

• Synthesizing Information R45 1-3 Q&A

II.  Objective:

• Given various scenarios distinguish between progressive, regressive, and proportional taxes
• Cite specific textual evidence to support analysis of primary and secondary sources
• Analyze and discuss the merits of various methods in which governments generate revenue on consumption, income and wealth.

III.  Notebook:

• Chapter 09 Section 1 -Notes in Notebook

IV.  Classwork

A.  Tennessee firefighters watch as home burns

1. Do you believe the firefighters action was justified?  Explain.
2. Develop some alternative policies in which this situation may be avoided.

B.  ARIZONA PROPOSES MEDICAID FAT FEE– WSJ.COM

1. Four Square
2. What principle of taxation does this tax involve?
3. Based upon the criteria for effective taxes (p. 232), do you believe the tax will be effective? Why?

V.  Chapter 9.1 & 9.2 iLearn Test – Today -Monday @ 3:30 pm

What to study:

• Objectives for Sections 9-1 & 9-2
• Know vocabulary words
• Progressive, Regressive, and Proportional tax & Examples of each
• Guided Reading 9-1- Ability to Pay & Benefit Principle
• Incidence of a tax/graphs pg 231
• Impact of a tax on producers and consumers(inelastic/elastic conditions)
• Types of taxes pg 235
• Federal Revenue Sources  (Pie Chart)
• State & Local Revenue Sources p 242

Economics W2015