Examlex
What process is involved when we direct our attention to specific stimuli while ignoring other stimuli?
Ability-to-Pay Principle
A taxation principle that suggests taxes should be levied based on the taxpayer's ability to pay, implying that those with higher incomes should pay more taxes.
Progressive Tax
A tax system where the tax rate increases as the taxable income or wealth increases, meaning higher earners pay a larger percentage of their income than lower earners.
Regressive Tax
A tax system where the tax rate decreases as the amount subject to taxation increases, placing a heavier burden on lower-income earners.
Market Activity
The collective buying and selling of goods and services, including financial transactions, in an economy.
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