excess

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excess

1. Chem a quantity of a reagent that is greater than the quantity required to complete a reaction
2. Commerce payable as a result of previous underpayment
References in periodicals archive ?
The extra taxes that have to be raised to finance a new government spending commitment create a Marginal Excess Tax Burden (METB), defined as the ratio of the loss of social surplus due to imposition of the tax, divided by the total amount of revenue collected.
For nearly two decades, the Office of Management and Budget had directed Federal agencies to include an average marginal excess burden of 25 cents per dollar when conducting cost-benefit analyses of Federal programs.
The marginal welfare cost, MWC, is defined as the marginal excess burden divided by the change in tax revenue.
It is important to consider the marginal excess burdens arising from the tax change, equal to the excess of the change in welfare over the extra tax raised, since this indicates the degree to which inefficiencies arise from the distortionary effect of the tax change.
Over the past twenty years or so, one of the major insights to come out of public-sector economics is that the marginal cost of government provision ought to include the marginal excess burden of taxation.