Examlex
Identify and state the historical significance of the following:
-Fair Employment Practices Commission (FEPC)
Price Elasticity
The degree to which the demand for a good is responsive to changes in its price.
Tax Passed
Occurs when the burden of a tax is shifted from the entity legally responsible for it to another party, such as consumers.
Import Quota
A regulatory measure that sets a physical limit on the quantity of goods that can be imported into a country over a specified period of time.
Tariff
A tax imposed by a government on goods and services imported from other countries, used to control trade.
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