Examlex
The un derlying concept behind 20th century physics is that
Federal Deficit
The financial condition that occurs when the government's expenditures exceed its revenues in a given fiscal year.
Progressive Tax
A taxation system in which the tax rate increases as the taxable amount or income increases, commonly seen in income tax systems to ensure higher earners contribute a greater proportion of their income.
Regressive Tax
A tax system in which the tax rate decreases as the taxable amount increases, disproportionately affecting lower-income individuals.
Supply-side Economics
An economic theory that advocates reducing taxes and decreasing regulation to stimulate economic growth by increasing supply of goods and services.
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