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FIGURE 2- 2
-Refer to Figure 2- 2. The slope of curve A is
Gross Earnings
The total amount of money earned by an individual or a company before any deductions or taxes are applied.
Taxable Income
The amount of an individual's or a corporation's income used to determine how much tax is owed to the government.
Withholding Allowance
A tax term referring to an exemption that reduces how much income tax an employer deducts from an employee's paycheck.
Monthly Salary
Regular payment from an employer to an employee, typically provided once a month, for the services rendered by the employee.
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