Examlex
What are norms?
Regressive
Describes a tax or policy that disproportionately affects lower-income individuals, typically by taking a larger percentage of their income.
Payroll Tax
Burdens placed on employers along with their employees, customarily determined as a percentage of the staff's wages.
Corporate Profits Tax
A tax imposed on the income or profit of corporations.
Long Run
A time frame where every element of production and expenses can vary, enabling complete adaptation to any shifts.
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