| A | B |
|---|
| revenue | moveny received from people for the gov't |
| income tax | tax on income of people & bus. |
| FICA | Federal Insurance Contributions Act |
| sales tax | tax added to prices of goods and services |
| excise tax | tax collected on sales of tabacco, gasoline etc. |
| tariff | taxes paid by foreign business on goods |
| wealth | total goods property & money owned by an individual |
| property tax | tax levied on items owned by a person or bus. |
| estate taxes | taxes paid on the value of real estate |
| gift tax | charges on tax making a gift |
| deregulation | removing government regulations |
| minimum wage | legal wage |
| international trade | trading of goods & services to other countries |
| comparative advantage | producing a particular product at a lower cost |
| imports | one country buying from other countries |
| exports | goods & services that our country sells to other countries |
| quotas | fixed limit on importing & exporting |
| embargo | prohibits trade of an item |
| balance of trade | difference between imports & exports |
| balance of payment | difference between money flow in & out country |
