Examlex
Determine two coterminal angles (one positive and one negative) for .
Average Tax Rate
The proportion of total income that is paid as taxes, calculated by dividing the total amount of taxes paid by the taxpayer's total income.
Horizontal Equity
The principle that individuals with similar income or assets should pay the same amount in taxes.
Vertical Equity
A principle in taxation where taxpayers with a greater ability to pay, pay more in taxes, demonstrating a progressive tax system.
Small Economy
An economy that is limited in size, characterized by a smaller population, lower GDP, and less impact on international markets compared to larger economies.
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