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Tax Rates
The percentage of income or value of goods taxed by the government, varying across different income brackets and types of goods.
Inflation
A sustained increase in the general price level of goods and services in an economy over a period of time, usually measured by the consumer price index (CPI).
Countercyclical Intervention
Economic policies or actions taken to counteract the negative effects of economic downturns.
New Classical Economists
A group of economists who believe in the rational expectations theory, advocating that markets generally operate efficiently and that policy interventions often lead to unintended consequences.
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