Examlex
When the moving element of the thermostat control touches the closed contact, the relay closes and ____________.
Tax Collection
The process performed by governments or authorized agencies to collect taxes from individuals, corporations, and other entities to fund public expenditures.
Administrative Costs
The resources used (which is a cost) by government to collect the tax, and by taxpayers to pay it as well as to evade it, over and above the amount of the tax.
Inefficiency
A scenario where resources are not used optimally, leading to wasted potential output or outcomes that do not maximize societal welfare.
Progressive
Refers to a tax system where the tax rates increase as the taxable amount increases, often aimed at reducing inequality.
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