An Elevator Suspended by a Vertical Cable Is Moving Downward

question 53

True/False

An elevator suspended by a vertical cable is moving downward but slowing down.The tension in the cable must be greater than the weight of the elevator.

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Definitions:

Marginal Tax Rate

The percentage of each additional dollar of income that goes to the tax.

Regressive

A term used to describe a tax system in which the tax rate decreases as the taxpayer's income increases, placing a larger burden on lower-income earners.

Ability-to-Pay Principle

A taxation principle that argues taxes should be levied according to an individual's or entity's capability to bear the tax burden.

Income Taxes

Taxes levied by governments on individuals or corporations' income, where the tax rate may increase as the taxable amount increases.