Examlex
In terms of population, GDP, etc., list five characteristics of a more developed country (MDC).
Marginal Tax Rate
The tax rate that applies to each additional dollar of income, indicating how much of the next dollar earned will be taken in taxes.
Average Tax Rate
Average Tax Rate is the proportion of the total income paid as taxes, calculated by dividing the total taxes by the total taxable income.
Total Taxes
The combined amount of all the taxes imposed by a government on an individual or business, including income tax, property tax, sales tax, etc.
Average Tax Rate
The proportion of total income that is paid in taxes, calculated by dividing the total tax paid by the total income.
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