Microeconomics – Comparative & Absolute Advantage

This article follows on from the previous gains from trade article. People consume goods produced domestically and overseas. Interdependence and trade mean more goods and services are available in increased variety. Differences in costs determines the value of trade. Production costs -> absolute advantage. The producer that requires a smaller quantity of inputs to produce … Continue reading Microeconomics – Comparative & Absolute Advantage

Redesigning Family Tax to Benefit Low Income Households

The total approximate savings from scrapping both the FTB Part B and the Schoolkids Bonus would be $5.9 billion each year. Therefore, the abolishment of Family Tax Benefit (FTB) Part B and the Schoolkids Bonus, while redesigning Family Tax Benefit Part A to reduce middle-class welfare and insulate low-income families from the former. The plan … Continue reading Redesigning Family Tax to Benefit Low Income Households