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Use the following to answer questions:
Figure: Tax Incidence
-(Figure: Tax Incidence) Look at the figure Tax Incidence. All other things unchanged, when a good or service is characterized by a relatively inelastic demand, as shown in panel _____, the greater share of the burden of an excise tax on it is borne by _____.
Remodel
To change the structure, shape, or appearance of something, especially buildings, rooms, or designs.
Earning Money
Refers to receiving payment for work done or through investments.
Saving
The act of setting aside money for future use, either by depositing it in a bank or investing it.
Indirect Benefits
Advantages or improvements that are not directly observable or immediate but occur as a consequence of an action.
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Q104: A _ tax takes a fixed percentage
Q121: An efficient way to finance the provision
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Q186: (Figure: The Production Possibilities for Two Countries)