Examlex
Trading firms that work out elaborate deals in which they trade or barter their products with one another or even supply goods in return for tax breaks from the local government are using ________.
Tax Liability
The total amount of tax that an individual or entity is legally obligated to pay to a taxing authority.
Regressive
Pertains to a situation or policy that has a disproportionately greater impact on those with lower income or status.
Excise Tax
A tax imposed on the sale or manufacture of specific goods, such as alcohol and tobacco, within a country.
Elasticity
A measure of how much the quantity demanded or supplied of a good or service changes in response to a change in price.
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