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1.8% of a population are infected with a certain disease.There is a test for the disease,however the test is not completely accurate.94.2% of those who have the disease will test positive.However 4.8% of those who do not have the disease will also test positive (false positives) .What is the probability that a person who tests positive actually has the disease?
Tax System Equity
The fairness of a tax system, assessed by how the tax burden is distributed among different groups in society.
Deadweight Losses
Economic inefficiencies that occur when the allocation of resources is not optimal, typically due to market imbalances or government interventions.
Tax
A compulsory financial charge or other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures.
Deadweight Loss
The loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved or is unattainable, leading to misallocation of resources.
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