Examlex
An example of a negative real shock is a rapid increase in:
Taxable Income
The amount of income used to determine how much tax an individual or a company owes to the government in a given tax year.
Lump-Sum Taxes
Taxes with a fixed amount, not dependent on the taxpayer's income level or economic activity, making them neither progressive nor regressive.
Equitable
Characterized by fairness and impartiality; the fair distribution of resources and opportunities.
Efficient
Describes a process that achieves its goals with the least waste of time and effort.
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