Examlex
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Inelastic
Describes a situation where the demand for a good or service is relatively unresponsive to changes in price.
FICA
The Federal Insurance Contributions Act, a United States federal payroll tax that funds Social Security and Medicare.
Paycheck
A document (or electronic transfer) issued by an employer to pay an employee for services rendered.
Tax Burden
The measure of the total amount of taxes paid by an individual, a business, or another entity to the government.
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