Table 12-5 
-Refer to Table 12-5. What is the average tax rate for a person who makes $120,000?
Definitions:
Export
The process of sending goods or services produced in one country for sale in another country.
Labor-Abundant
Describes an economy or sector that has a relatively high supply of labor compared to capital.
Land-Scarce
A situation where the availability of usable land is limited, often leading to higher property values and intensified use of land.
Wages
Payments made to workers for their services, usually calculated on an hourly, daily, or piecework basis.
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