Examlex
While they still make final decisions, democratic leaders typically solicit and incorporate input from their followers.
Minimum Annual Income
The lowest yearly income deemed necessary for a person or family to meet their basic living expenses.
Necessities
Necessities are basic needs or essential items required for living, such as food, clothing, and shelter.
Ability-To-Pay Principle
A taxation principle that suggests taxes should be levied according to an individual or entity's ability to afford them, often implying higher taxes for those with higher income.
Pigouvian Subsidies
Financial incentives given by the government to encourage activities that have positive external effects on society.
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