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A statistics class taught by Dr. X had 30 students who obtained an average test score of 82.5. A class taught by Dr. Why had 20 students who ended up with an average score of 79.6. Dr. Zee (you guessed it) had 23 students who obtained an average score of 96.0. What was the average score for all the students combined?
Laissez-Faire Economy
A market system in which private-party transactions are conducted without the interference of government actions like regulations, privileges, tariffs, and subsidies.
Marginal Tax Rate
The tax rate paid on the next dollar earned.
Average Tax Rate
Total amount of tax paid divided by total income.
Total Taxes
The aggregate amount of taxes collected by a government from individuals and businesses.
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