Match Each Term with the Correct Statement Below

question 37

Multiple Choice

Match each term with the correct statement below.
-The tax rate obtained by dividing total tax liability by taxable income.

• A)Average tax rate
• B)Effective tax rate
• C)Horizontal equity
• D)Marginal tax rate
• E)Progressive rate structure
• F)Proportional rate structure
• G)Regressive rate structure
• H)Tax avoidance
• I)Tax evasion
• J)Vertical equity

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Definitions:

Derived Demand

The demand for a factor of production or intermediate good that results from the demand for another good or service.

LCD Screens

Liquid Crystal Display screens, a technology used in monitors, televisions, and mobile devices for displaying images, utilizing liquid crystals to control light passage.

LED Screens

Display technology using light-emitting diodes as pixels for video display, known for their brightness, energy efficiency, and thin profiles.

Purely Competitive

A market structure characterized by a large number of small firms, homogeneous products, and free entry and exit, where no single firm can influence the market price.