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Answer the following questions:
-Socratic method
Excise Tax
A tax applied to specific goods or services, often included in the price of products such as tobacco, alcohol, and fuel.
Average Tax Rate
The percentage of the total income that is paid as taxes, calculated by dividing the total amount of taxes paid by the taxpayer's total income.
Personal Income
The total amount of income received by an individual or household from all sources before taxes and deductions.
Marginal Tax Rate
The rate at which the last dollar of a person's income is taxed.
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