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Tax Policy Includes a Variety of Methods Used to Increase

question 9

Essay

Tax policy includes a variety of methods used to increase revenues. Explain the variables of taxation noted by
b. Guy Peters (2006).


Definitions:

GDP

Gross Domestic Product, the total value of all goods and services produced within a country's borders in a specific time period.

Living Standards

The level of wealth, comfort, material goods and necessities available to a certain socioeconomic class or geographic area.

Annual Interest Rate

The percentage that is applied to a sum of money, including loans or savings, indicating the amount earned or paid over a year.

Interest Rates

The cost of borrowing money or the return for investing money, usually expressed as a percentage of the principal amount.

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