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Discretionary Policies
Economic policies based on the judgment and decisions of policymakers, as opposed to set rules or formulas, often involving changes in government spending or taxation.
Policy Rules
Guidelines or protocols that dictate the actions of an organization or government in specific situations to achieve desired outcomes.
Laffer Curve
A theory that suggests there exists an optimal tax rate which maximizes government revenue without deterring economic growth, demonstrating the trade-off between tax rates and taxable income.
Tax Rates
Tax rates are the percentages at which an individual or corporation is taxed, varying by income level, economic activity, or type of good.
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