exempt

¹ex·empt

adj \ig-ˈzem(p)t\

Definition of EXEMPT

1

obsolete : set apart

2

: free or released from some liability or requirement to which others are subject <was exempt from jury duty> <the estate was exempt from taxes>

Origin of EXEMPT

Middle English, from Anglo-French, from Latin exemptus, past participle of eximere to take out — more at example

First Known Use: 14th century

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer