Examlex
A relative P/E ratio greater than 1 indicates that a company may be undervalued.
Property Tax
A tax assessed on real estate by the local government, based on the property's value.
Elastic
Refers to the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.
Excess Burden
The cost to society created by market inefficiency, which occurs when supply and demand are out of equilibrium.
Tax Revenue
The income that is collected by the government through various forms of taxation.
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