Examlex
Explain how consumption smoothing involves the loanable funds market.
Tax
Compulsory contributions made to government revenues, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions.
Per-unit Burden
The tax cost to a buyer or a seller for each unit of a good or service, often used to analyze the effect of taxes on market equilibrium.
Tax
A financial charge or other levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.
Consumer Surplus
The shortfall between the total consumers are willing to contribute towards a good or service and the actual contribution.
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