A tax wedge is the difference between before-tax and after-tax wages. It also refers to the market inefficiency that is created when a good is taxed.

Discover how coincident indicators reflect current economic conditions, their role in analyzing business cycles, and their impact on understanding economic trends.

What if you could predict your competitor’s next move before they even made it? Game theory gives you the tools to do just that. Have you ever noticed how a new product launched by one brand often ...

Behavioral Economics is the application of psychology to the field of economics. It describes the role that psychology plays among consumers, employers, and governments, which then impacts markets and ...

Budget surpluses occur when income exceeds expenses in any budget. Economic surplus arises when supply outstrips demand, lowering prices. Producer surplus increases with cost reductions from ...

“IT IS fair to say the economy is near maximum employment,” said Janet Yellen, chairman of the Federal Reserve, in recent comments preparing markets for rate rises to come. But “maximum employment”, ...