The First Ironclad Ships to Engage in a Naval Battle

question 6

Short Answer

The first ironclad ships to engage in a naval battle were the Merrimac (also known as Virginia)and the ________.

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Definitions:

Marginal Tax Rate

The rate at which the last dollar of income is taxed, reflecting the percentage of additional income that must be paid in taxes.

Average Tax Rate

The ratio of the total amount of taxes paid by an individual or business to the total income or profit earned.

Fiscal Year

A twelve-month period used for accounting and financial reporting purposes, which may or may not align with the calendar year.

Unfunded Mandate

A statute or regulation that requires a state or local government to perform certain actions, with no money provided for fulfilling the requirements.