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Explain why deflation could prevent people from being able to repay their debts.
Total Tax Collections
The aggregate amount of taxes collected by a government from various sources during a specified period.
Payroll Tax
Obligations imposed on both employers and employees, frequently measured as a segment of the payroll.
Equilibrium Wage Rate
The wage rate at which the quantity of labor demanded equals the quantity of labor supplied in the market.
Payroll Tax
A tax that an employer withholds and pays on behalf of its employees based on the wage or salary of the employee, typically used to fund social security and healthcare programs.
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