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Which of the Following Is NOT a Factor That Has

question 14

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Which of the following is NOT a factor that has contributed to the rapid economic growth of NICs (newly industrialized countries) ?


Definitions:

Firms

Business organizations involved in the production and sale of goods and services.

Payroll Tax

Taxes imposed on employers and employees, calculated as a percentage of the salaries that employers pay to their staff.

Regressive

A term typically used to describe tax systems that take a smaller percentage of income as income increases, disproportionately affecting lower-income earners.

Low Income Levels

describe the economic condition where individuals or households earn less than the median income of a specific geographic area, often leading to limited access to basic needs and services.

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