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September 22, 2018 

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SECOND-DEGREE PRICE DISCRIMINATION: A form of price discrimination in which a seller charges the different prices for different quantities of a good. This also goes by the name block pricing. This is possible because the different quantities are purchased by different types of buyers with different demand elasticities. This is one of three price discrimination degrees. The others are first-degree price discrimination and third-degree price discrimination.

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VERTICAL EQUITY: A system of taxes that treats unequal people unequally. In other words, if you make the less income than someone else and pay fewer personal income taxes, then we have vertical equity.

     See also | tax | horizontal equity | income |


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VERTICAL EQUITY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: September 22, 2018].


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L

A broad monetary measure that combines M3 plus several liquid assets, including commercial paper, U.S. Treasury bills, savings bonds, and bankers' acceptances. L used to be tracked and reported by the Federal Reserve System along with M1, M2, and M3. However, L is no longer reported.

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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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