Examlex
Professor Anderson is conducting a memory study. Participants learn a word list and then they have to wait 30 seconds before trying to recall the list. During the 30 seconds, participants have to count backwards by three's. What is she researching?
Efficient
Describes a process that achieves its goals with the least waste of time and effort.
Lump-Sum Tax
A tax that is the same amount for every person.
Deadweight Loss
A cost to society created by market inefficiency, which occurs when supply and demand are out of equilibrium.
Ability-To-Pay Principle
A principle in taxation that holds that taxes should be levied according to an individual's or entity's capacity to pay.
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