Examlex
The normal lapse rate for temperature decreases is an average of 3°C per 1000 m.
Marginal Tax Rate
The rate at which an additional dollar of income is taxed, showing the percentage of tax applied to your next dollar of taxable income.
Average Tax Rate
Total tax paid divided by total taxable income or some other base (such as total income) against which to compare the amount of tax paid. Expressed as a percentage.
Progressive Tax
At the individual level, a tax whose average tax rate increases as the taxpayer’s income increases. At the national level, a tax for which the average tax rate (= tax revenue/GDP) rises with GDP.
Exhaustive Governmental Outlay
Total government spending on goods and services that are directly consumed or invested, excluding transfer payments such as subsidies or social security benefits.
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