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REGRESSIVE TAX: A tax in which people with more income pay a smaller percentage in taxes. A regressive tax is given by this example--You earn $10,000 a year and your boss gets $20,000. You pay $2,000 in taxes (20 percent) while your boss also pays $2,000 in taxes (10 percent). Examples of regressive taxes abound (is this surprising given the political clout of the wealthy?), including sales tax, excise tax, and Social Security tax.
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TECHNOLOGY The sum of the knowledge and information that society has acquired concerning the use of resources in the production of goods and services. Technology often takes the form of scientific knowledge (the best combination of chemicals to make a long-lasting floor wax), but can also be plain old common sense (irrigate during a drought, not during a flood). Whether scientific or common sense, technology affects the technical efficiency with which resources are combined in production.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either a set of luggage with wheels or a birthday gift for your aunt. Be on the lookout for malfunctioning pocket calculators.
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This isn't me! What am I?
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. " -- Steve Jobs, Apple Computer founder
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TSE
Toronto Stock Exchange
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