MACROECONOMICS
ASSIGNMENT
RESUME
OF CONSUMPTION
ARRANGED BY :
NANDIAS ALFIANA ROSI
1610631030191
Faculty of Economics And
Business
University of
Singaperbangsa Karawang
2016
TABLE OF CONTENTS
List of Contents..................................................................................................................
Preface...............................................................................................................................
BAB I : CONSUMPTION
Formulation of Consumption Questions...........................................................................
Consumption Theory.........................................................................................................
Actors of Consumption.....................................................................................................
Related Between Consumptions And Income..................................................................
Income Is Major Factors For Consumptions.....................................................................
BAB II : TAXATION
Defining of Taxation........................................................................................................
Principles of A Good
Taxation..........................................................................................
Goals of Taxation................................................................................................................
Revenue of Taxation...........................................................................................................
BAB III : SAVING ON
ECONOMICS
Definition of Saving
Economics.........................................................................................
Advantage of Saving
Economics........................................................................................
How To Begin The Money..................................................................................................
Bibliography......................................................................................................................
Preface
Assalamualaikum wr.wb
First of all, i wanna say
thank you for Allah to give me a chance to keep breathing untill now and for
all blesses here,also, thanks to my parent, my partner and all my friends.
Special thanks for Mr. Irvan Yoga Pardistya,SE,MM to give me this
exercises.
All of the things that we know
when i'm doing this exercise isnt easy, i hope that all of my answers can
useful and helpful for another people out of here.
Wassalamualaikum wr.wb.
Karawang, 9th October 2016
Nandias Alfiana Rosi
FORMULA OF QUESTIONS
1.What is consumption theory ?
2.Who are the actors ?
3.Why is consumptions related with income ?
4.How can Income is major factors for
consumptions ?
BAB II : EXPLANATION
A. Consumptions Theory
Consumption
is spend types on goods and services made by households with goals to fulfill
the necessary of people who do this. Consumer usually spending on food ,
clothing , and goods classified to them as expenditure or consumption.
According to Keynes , consumption expenditure is
doing by the household sector in the economics, depends on the amount of income
. The comparison between the amount of consumption by the number of revenue
-called tend consume ( MPC = marginal propensity to Consume ) . More larger the
MPC , more bigger too for the income used for consumption and vice versa.
B.
Actors of Consumptions
- Household Consumptions
Household Consumptions is a group of peoples (individu or group)
who are doing consumption activity like stuff or service who are produced by
produsen to fill their live. There's a lot way that household consumptions
doing, like :
- Rent
- Wage
- Interest
- Profit
- Household Produsen
Household Produsen is a organization who has developed by
individual or a group to make a variant stuff and service who was needed by
peoples.
- Government
Government is a important part of economic matters, government has
a tasks to organize, and control economics of country to makes an goals is
affluence.
- Foreign
Public
To fulfill the needs of the economics of foreign
public role , so economics activity is also strongly influenced by the
international community . The activities of economic actors to the communities
abroad is an international economic activity , covers all activities concerning
economic relations between countries , both on international trade and
international payment traffic , as well as regional economic cooperation and
international .
C. Related Between Consumptions And Income
The related between consumptions and income is
estimating revenue with expenditures in order to achieve balanced economic that
isn't different between revenue and expenditure and making it more efficient.
Because for those who have high levels of income , the consumption can be high
as well as vice versa.
D. Major Factors of Consumption
• Consumen Income
The
higher the income of a household , the higher the level of consumption . Vice
versa , if the income is small , the consumption also small.
- Price of Goods
More or less goods to be consumed heavily
dependent on price . In other words , consumption is reduced at a high prices
and consumption could be improved if the price is lower.
- Interest
Rate
Consumer tastes of each person is different. Javanese and Sundanese
people have different tastes in food . The big difference in taste will clearly
affect domestic consumption of goods and services.
MAJOR FACTOR OF CONSUMPTION IS
INCOME
- Nominal Income
Earnings are not adjusted for inflation and
declining purchasing power.
- Riil Income
Real national income can be determined by way of
national income deflate according to the prevailing price is to re- vote based
on prices in the base year.
A. WHAT IS TAXATION
Taxation refers to compulsory or coercive
money collection by a levying authority, usually a government. The term
"taxation" applies to all types of involuntary levies, from income to
capital gains to estate taxes. Taxation is principal method by which a government gains
revenue into its budget. That revenue goes into a vast number of items, from
paying debt, deafening the potential for implementing certain policies to
paying for public services and welfare benefits and the military, etc. There
are many methods by which tax revenue can
be gained, and different definitions and structures to taxation which are
outlined below. Also, conflicts in choosing methods and forms of taxation
occur, pitting priorities such as reducing iniquity of income against
maximizing incentive for economic growth. Taxes can also help to structure all
sort of economic transactions, in a way that the state can exert influence in
all participants even over the currency used.
B. PRINCIPLES OF A GOOD TAXATION
1. Efficient - A tax system
should raise enough revenue such that government projects can be
2. adequately sponsored, without
burdening the economy too much (not particularly the tax payer), as not to
become a disincentive for performance (internal and external investment, work
returns and savings).
3. Understandable - The
system should not be incomprehensible to the layperson, nor should it appear
unjust or unnecessary complex. This is to minimize discontent and costs.
4. Equitable - Taxation
should be governed by people's ability to pay, that is, wealthier
individuals or firms with greater incomes should pay more in tax while those
with lower incomes should pay comparatively less.
5. Benefit Principle - Those
that use a publicly provided service (which is funding primarily through
taxation) should pay for it! However, conflicts in principle may and often do
arise between this and principle.
C. GOALS OF
TAXATION
Officially, taxes you for
three reasons:
1.
To provide revenues for the government
2.
To redistribute wealth from the rich to the poor (see: Hood, Robin)
3.
To avoid negative externalities (a.k.a. unintended bad results
D. REVENUE OF TAXATION
The government has a lot of
bills to pay, and you're benefiting from some of those things. Here's some of
the stuff the government pays for:
•
Roads, bridges, and all the other fun surfaces your car can drive on
•
Talks with other countries and diplomatic missions, so other countries aren't
always trying to burst
through the doors
•
Immigration, so we know who's coming in and out
•
Commerce deals with other countries, so we can trade our stuff for other stuff
overseas
•
Jails, police officers, firefighters, and the fuzz that keeps everything in
order
•
Government employees, including those charming folks at the DMV and IRS
•
The entire military system
•
Public schools
•
Social benefits, including the welfare system and food for those who need it
•
Medical benefits for those who don't have or can't afford medical care
•
Other stuff that you probably assume is f
E. TYPES OF TAXATION
A business must pay a
variety of taxes based on the company's physical location, ownership structure
and nature of the business. Business taxes can have a huge impact on the
profitability of businesses and the amount of business investment. Taxation is
a very important factor in the financial investment decision-making process
because a lower tax burden allows the company to lower prices or generate
higher revenue, which can then be paid out in wages, salaries and/or dividends.
Business may be
required to remit the following types of taxes:
-
Federal Income Tax: A tax levied by a
national government on annual income.
-
State and/or Local Income Tax: A tax levied
by a state or local government on annual income. Not all states have
implemented state level income taxes.
8
-
Payroll Tax: A tax an employer withholds
and/or pays on behalf of their employees based on the wage or salary of the
employee. In most countries, including the United States, both state and
federal authorities collect some form of payroll tax. In the United States,
Medicare and Social Security, also called FICA, make up the payroll tax.
-
Unemployment Tax: A federal tax that is
allocated to state unemployment agencies to fund unemployment assistance for
laid-off workers.
-
Sales Tax: A tax imposed by the government at
the point of sale on retail goods and services. It is collected by the retailer
and passed on to the state. Sales tax is based on a percentage of the selling
prices of the goods and services and is set by the state. Technically,
consumers pay sales taxes, but effectively, business pay them since the tax
increases consumers costs and causes them to buy less.
-
Foreign Tax: Income taxes paid to a foreign
government on income earned in that country.
-
Value-Added Tax: A national sales tax
collected at each stage of production or consumption of a good. Depending on
the political climate, the taxing authority often exempts certain necessary
living items, such as food and medicine from the tax.
DEFINITION OF SAVING ON ECONOMICS
Savings,
according to Keynesian economics, consists of the amount left over when the
cost of a person's consumer expenditure is subtracted from the amount of
disposable income he earns in a given period of time. For those who are
financially prudent, the amount of money left over after personal expenses have
been met can be positive; for those who tend to rely on credit and loans to
make ends meet, there is no money left for savings. Savings can be turned into
further increased income through investing in different investment vehicles.
Savings
is the amount of money left over after spending. For example, Sasha’s monthly
paycheck is $5,000. Her expenses include a $1,300 rent payment, $450 car
payment, $500 student loan payment, $300 credit card payment, $250 for
groceries, $75 for utilities, $75 for her cellphone and $100 for gas. Since her
monthly income is $5,000 and her monthly expenses are $3,125, Sasha has $1,875
left. If Sasha saves her excess income and has an emergency, she has plenty of money
to live on while resolving the issue. If Sasha does not save her extra money
and her expenses exceed her income, she is living paycheck to paycheck. If she
has an emergency, she does not have money to live on and must secure payments
for her bills.
ADVANTAGE
OF SAVINGS ACCOUNTS
Because
savings accounts pay interest, it is more financially advantageous to keep
unneeded funds in a savings account than a checking account. In addition,
savings accounts are one of the most liquid investments outside of demand
accounts and cash. While savings accounts facilitate saving, they also make it
very easy to access your funds. In contrast, it is typically more difficult to
cash a bond, make a withdrawal from a retirement account, or sell stocks or
other assets.
Saving, process of setting aside a portion of current
income for future use, or the flow of resources accumulated in this way over a
given period of time. Saving may take the form of increases in bank deposits,
purchases of securities, or increased cash holdings. The extent to which
individuals save is affected by their preferences for future over present
consumption, their expectations of future income, and to some extent by the
rate of interest.
There are two ways for an individual to measure his
saving for a given accounting period. One is to estimate his income and
subtract his current expenditures, the difference being his saving. The
alternative is to examine his balance sheet (his property and his debts) at the
beginning and end of the period and measure the increase in net worth, which
reflects his saving.
Total national saving is measured as the excess of
national income over consumption and taxes and is the same as national
investment, or the excess of net national product over the parts of the product
made up of consumption goods and services and items bought by government
expenditures. Thus, in national income accounts, saving is always equal to
investment. An alternative measure of saving is the estimated change in total
net worth over a period of time.
Saving is important to the economic progress of a country
because of its relation to investment. If there is to be an increase in
productive wealth, some individuals must be willing to abstain from consuming
their entire income. Progress is not dependent on saving alone; there must also
be individuals willing to invest and thereby increase productive capacity.
HOW
TO BEGIN SAVING MONEY
To
help a person choose saving over spending money, money should not be viewed as
what is remaining after
current needs and wants have been satisfied. Pay yourself first is a popular
and very effective saving strategy that can help individual’s
choose saving over spending money. Paying yourself first means to set aside a portion of money (10-20% of net
income is recommended) for saving each time a person is paid before using any of the money for
spending.
Strategy
Personal Goals
To
successfully practice the pay yourself first strategy a person should set
personal goals. Setting goals helps
a person choose to save rather than spend money. A goal is defined as the end
result of something a
person intends to acquire, achieve, do, reach, or accomplish. Financial goals
are specific objectives to be
accomplished through financial planning and include saving money.
Setting
goals helps an individual identify
and focus on items that are most important to them and then make decisions that
help obtain those items. While in the process of setting goals,
an individual should consider the trade-offs to those goals. A trade off is
giving up one thing for another. Every decision involves a trade-off. Being
more financially secure in the
future by saving is a trade-off to spending money in the present.
If
a person clearly understands what they
are giving up in exchange for the benefits of saving money, then their saving
goals will become more
attainable and realistic. When considering the trade-offs to achieving savings
goals, an individual should
examine their current spending as well. Spending may have to be adjusted in
order to reach a financial
goal and practice the pay yourself first strategy.
Assess your finances and eliminate
credit card debt
Take a good look at your financial situation, including
credit card debt, student loans, car loans, mortgages, etc. Before you start
investing and saving for your goals, you might consider eliminating credit
card debt that carries very high interest rates. Once all credit card payments
are made, you can then take that same amount of money and invest it. All other
debt such as student loans, car loans and a mortgage, tend to have lower
interest rates and can be paid down while you invest in the markets.
In addition, if you have bought stocks or funds in the past
and those investments still make sense, determine if they fit into your
financial plan. Close brokerage and bank accounts you don’t need or use. Figure
out how many years you have until retirement and the amount of income you’ll
need.
Set up a rainy day fund
Once you pay off your credit card debt, your next short-term
goal is to build up a rainy day or emergency fund.
It’s generally a good idea to establish a rainy day fund
before you invest for any other goal. Advisors recommend that people set aside
three months worth of everyday expenses into such a fund. This helps build a
cushion for unforeseen expenses like a car repair or replacement of a large
household appliance. It pays to plan ahead. Also, try not to put large
essential expenses on a credit card, because that will just put you back to
square one.
BAB III : CLOSING
BIBLIOGRAPHY
http://aabshare.blogspot.co.id/2014/01/pengertian-teori-konsumsi-makro.html
J.
Miller, Laura.2008. Reluctant
Capitalists: Bookselling and the Culture of Consumption. University of
Chicago Press.
http://www.ilmu-ekonomi-id.com/2015/12/pelaku-kegiatan-ekonomi.html
http://stiebanten.blogspot.co.id/2011/05/hubungan-antara-konsumsi-dan-pendapatan.html
http://ilmu-pengetahuan-sma.blogspot.co.id/2013/08/faktor-faktor-yang-mempengaruhi-konsumsi.html
http://sitisolehah.mywapblog.com/pendapatan-nasional-riil-dan-nominal.xhtml
Trentmann, Frank. 2012. The Oxford Handbook of the History of Consumption. University Oxford : OUP Oxford.
Jonathan R. Kesselman, Payroll Taxes and Social
Security, 22 Canadian Pub. Pol'y 162, 166 (1996).
Richard J. Joseph, The Origins of the American Income Tax: The Revenue Act
of 1894 and its Aftermath 30-33 (2004).
John
B. Shoven
and B.
Douglas Bernheim. 2009. National Saving and Economic Performance. University of Chicago Press.
https://financialengines.com/education-center/short-term-goals/
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