Examlex
Supply and demand together determine the price and quantity of a good sold in a market.
Marginal Tax Rate
The rate at which the last dollar of income is taxed, indicating the percentage of additional income that will be taken as tax.
Income Increases
A rise in the amount of money received, especially on a regular basis, by an individual or group.
Progressive Tax
A tax system in which the tax rate increases as the taxable amount increases, thereby imposing a higher percentage rate on higher-income earners.
High-Income
Earning a substantial amount of money, typically above the median income level in a given region or country.
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