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Meters normally run on mileage, not time don't they?
A taxi meter uses electric pulses to measure both distance and time. To get the distance traveled, the meter relies on a sensor attached to the cab's transmission. The sensor sends an electric pulse to the meter every time the cab travels a given distance. Inside the meter itself is a timer that sends out a pulse when a set amount of time passes. Pulses come from either sensor at intervals that are smaller than the fare interval. For example, a cab might charge you based on every 100 yards (91.4 meters) of travel, but the distance meter will pulse at each yard (0.9 meters). When the meter gets 100 pulses, it adds to the amount of the fare.Here's an example of fares from New York City. Just hailing a cab and getting in will cost you $2.50. For every fifth of a mile (0.3 kilometers) you travel, 40 cents is added to the fare (a fifth of a mile is four city blocks). For every minute the cab sits without moving, another 40 cents gets added to the fare.