An implicit agreement among the members of a society to cooperate for social benefits, for example by sacrificing some individual freedom for state protection. Theories of a social contract became popular in the 16th, 17th, and 18th centuries among theorists such as Thomas Hobbes, John Locke, and Jean-Jacques Rousseau, as a means of explaining the origin of government and the obligations of subjects.
In a direct democracy, every person participates actively in every public decision, instead of relying on elected representatives.
<h3>What is democracy?</h3>
Democracy is a system of government, whereby people exercise power to directly elect representatives from amongst themselves, hence form a government body.
It is otherwise called a system of the government, by the people and for the people.
Learn more about democracy here: brainly.com/question/3710021
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Answer:
Tax cuts boost demand by increasing disposable income and by encouraging businesses to hire and invest more.
Tax increases do the reverse. These demand effects can be substantial when the economy is weak but smaller when it is operating near capacity.
Explanation:
How do taxes affect the economy in the long run? High marginal tax rates can discourage work, saving, investment, and innovation, while specific tax preferences can affect the allocation of economic resources. But tax cuts can also slow long-run economic growth by increasing deficits
