Examlex
Which of the following combinations would result in an image with the least amount of magnification?
Marginal Tax Rate
The rate at which the last dollar of a taxpayer’s income is taxed, indicating the percentage of tax applied to your income for each tax bracket in which you qualify.
Regressive Tax
A tax applied uniformly, taking a larger percentage of income from low-income earners than from high-income earners, considered to be inversely proportional to the taxpayer's ability to pay.
Average Tax Rate
The proportion of total income that an individual or business pays in taxes, calculated by dividing the total tax paid by the taxable income.
Progressive Tax
A tax system in which the tax rate increases as the taxable amount increases, usually aimed at ensuring fairness by taxing higher incomes at higher rates.
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