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Basic steps for running a nominal group session are: asking participants to work alone in generating ideas, reading ideas aloud in a round-robin fashion, recording all ideas as presented, and using a written voting procedure to rank order alternatives.
Marginal Tax Rate
The rate at which the last dollar of a taxpayer's income is taxed, indicating the percentage of additional income that is paid in tax.
Efficiency
The optimal use of resources to achieve the best possible outcome or output with minimal waste.
Equity
Equity refers to fairness or justice in the way people are treated and involves ensuring equal opportunities and rights for all individuals.
Benefits Principle
A theory in taxation where taxes are apportioned according to the benefits received by taxpayers; those who benefit more from government services, pay more taxes.
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