[ 'lafə ]
■ noun Economics a supposed relationship between economic activity and the rate of taxation which suggests that there is an optimum tax rate which maximizes revenue.
Origin
1970s: named after the American economist Arthur Laffer .
[ 'lafə ]
■ noun Economics a supposed relationship between economic activity and the rate of taxation which suggests that there is an optimum tax rate which maximizes revenue.
Origin
1970s: named after the American economist Arthur Laffer .
Concise Oxford English vocab. Сжатый оксфордский словарь английского языка. 2004