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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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EXPLICIT COLLUSION: A formal, usually secret, collusion agreement among competing firms (mostly oligopolistic firms) in an industry designed to control the market, raise the market price, and otherwise act like a monopoly. Also termed overt collusion, the distinguishing feature of explicit collusion is a formal agreement. This should be contrasted with implicit or tacit collusion that does not involve a formal, explicit agreement. See also | collusion | oligopoly | industry | market control | price | monopoly | competition among the few | overt collusion | implicit collusion | cartel | antitrust laws |
Recommended Citation:EXPLICIT COLLUSION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: June 22, 2018].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: explicit collusion
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ABSOLUTE ADVANTAGE The general ability to produce more goods or services using fewer resources. A person or country has an absolute advantage in production largely due to superior technology or greater technical efficiency. A related, but contrasting concept is comparative advantage. Both terms are perhaps most important to the study of international trade, but also provide insight into other exchanges.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs looking to buy either a battery-powered, rechargeable vacuum cleaner or a remote controlled World War I bi-plane. Be on the lookout for crowded shopping malls.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Whenever you fall, pick up something. " -- Oswald Avery, scientist
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TSP
Time Series Processor (software)
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