Each former president receives the same salary as a current member of the Presidential Cabinet. For 2013, the amount was $199,700 per year. This number does not take into account the extras the former leader is entitled to including a $96,000 stipend for office staff payroll and free postage for life.ach former president receives the same salary as a current member of the Presidential Cabinet. For 2013, the amount was $199,700 per year. This number does not take into account the extras the former leader is entitled to including a $96,000 stipend for office staff payroll and free postage for life.
An economic surplus is also known as total welfare. An economic surplus is related to money, and it reflects a gain in the expected income from a product. There are two types of economic surplus: consumer surplus and producer surplus. Consumer surplus occurs when the price for a product or service is lower than the highest price the consumer would pay. For example, think of it like an auction: a buyer walks into an auction with a set price limit he or she will not exceed.
Pigovian Taxation as a Means of Reducing Carbon Emissions. Economic equilibrium is reached when demand and supply are equal. Market equilibrium is similar, with prices of goods and services canceling each other out. Loyal to the definition of âequilibrium,â this state will not change unless one of the contributing factors, such as supply or demand, changes first. Economic equilibrium is largely theoretical, but itâs an ideal which economic policymakers strive towards. Some market inequalities are countered with taxes or subsidies.