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Real GDP
The market value of all final goods and services produced within a country in a particular period, adjusted for inflation.
Money Stock
The total amount of money in circulation within an economy at a given time, including cash and deposits.
Laffer Curve
A theoretical representation of the relationship between tax rates and government revenue, suggesting there is an optimal tax rate that maximizes revenue.
Marginal Tax Rates
A rephrased definition: The percentage of tax applied to your income for each tax bracket in which you qualify, essentially defining how much tax you pay on an incremental dollar of earnings.
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