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You are from the continental United States and are conversing with a classmate who comes from Norway. Your remark to your classmate how strange it must be to have almost 24 hours of sunlight on some summer days. You remark that this must seem really unusual to have such long hours but they do not agree. Why not?
Corporate Profits Tax
A tax imposed on the income or profit earned by corporations.
Equilibrium
A state of balance or stability within a system, where all forces acting upon the system are equal and opposite, leading to no net change.
Tax Incidence
The study of who ultimately bears the burden of a tax, which can differ from who the tax is initially levied upon.
Tax Burden
The measure of taxes that an individual or business must pay out of their income or profit.
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