1. Fundamentals of Macroeconomics
Government sanctions and restrictions add another complex layer. Declaring: "with the goal of protecting Russia's national interests", Vladimir Putin "banned or limited the import of food products from countries that imposed sanctions on Russia", including the US and European Union. Russia imports 40% of its food (Ioffe, 2014). ... Lower taxes help stimulate the economy while higher taxes help fund government programs. ... Both of these scenarios are ultimately related to the government's handling of the funds generated by taxes. ...
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- Grade Level: High School