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A POSTERIORI: A conclusion reached through logical reasoning based on facts and observations about the real world. This notion is closely related to the scientific verification of hypotheses and the identification of principles. A similar sounding, but opposite term is a prior, which is a unverified presumption made before an analysis is undertaken. For example, in the study of economics of crime you might assume, a priori, that people are basically "good", and conclude, a posteriori, that people are more likely to commit crimes when the threat of capture and conviction is lower.

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PROPORTIONAL TAX: A tax in which people pay the same percentage of income in taxes regardless of their incomes. Here's an example of a proportional tax -- You earn $10,000 a year and your boss gets $20,000. You pay $1,000 in taxes (10 percent) and your boss pays $2,000 in taxes (10 percent). While a proportional tax would seem to make a lot of sense, very few taxes are designed to be proportional and even fewer come out that way in practice. The reason is often attributable to the ongoing battle between the second and third estates. Each side wants the other to pay a larger share of taxes.

     See also | tax | income | income tax | income | regressive tax | progressive tax |


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PROPORTIONAL TAX, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: May 23, 2025].


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FEDERAL DEFICIT, AGGREGATE DEMAND DETERMINANT

One of several specific aggregate demand determinants assumed constant when the aggregate demand curve is constructed, and that shifts the aggregate demand curve when it changes. An increase in the federal deficit causes an increase (rightward shift) of the aggregate curve. A decrease in the federal deficit causes a decrease (leftward shift) of the aggregate curve. Other notable aggregate demand determinants are interest rates, inflationary expectations, and the money supply.

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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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