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Marginal Tax Rate
The rate at which the last dollar of income is taxed, indicating the percentage of additional income that is taken as tax.
Worker
An individual engaged in some form of productive labor, either as an employee, contractor, or self-employed person, contributing to the production of goods and services.
Producer Surplus
The difference between the amount a producer is paid for a good compared to the least amount they would accept to produce the good.
Tax
An inescapable financial demand or another sort of fee imposed on a taxpayer by an arm of the government to fulfill government spending requisites and diverse expenditures for public services.
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