Examlex
What is meant by the idea of the "looking-glass self" (Cooley, 1902) ?
Proportional Tax
A tax system where the rate remains constant regardless of the amount to which the tax base is applied.
Progressive Tax
A taxation system where the tax rate increases as the taxable amount or income increases, placing a higher burden on wealthier individuals.
Regressive Tax
A tax system where the tax rate decreases as the taxable amount increases, placing a higher relative burden on lower-income earners.
Deadweight Loss
The loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved or is not achievable. This can happen due to factors like market inefficiencies, taxes, or subsidies.
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