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Tax Revenue
The funds that governments garner from taxing activities.
Deadweight Loss
An economic inefficiency that occurs when the market outcome does not maximize total benefits, often due to distortions such as taxes, subsidies, or monopolies.
Tax
A mandatory financial charge imposed by a governmental organization in order to fund various public expenditures.
Gains from Trade
Gains from trade refer to the increase in consumer and producer surplus that occurs when countries specialize in the production of goods and services in which they have a comparative advantage and then trade with others.
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