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Francis has applied for admission to a computer science programme, and one of the requirements for admission is the completion of a test that measures sequencing skills and abstract reasoning skills. Her score on this test will be a major factor in the decision about whether to admit her to the programme. In this case, the test that Francis is scheduled to take would be classified as
Implicit Tax
A non-legislative effect that decreases the benefits of certain financial choices because of opportunity costs or market adjustments.
Market Equilibrium
The price at which quantity supplied equals quantity demanded.
Organ Sales
The controversial practice of selling human organs for transplantation, often criticized for ethical, legal, and health concerns.
Wealth Creating
Activities or processes that result in the increase of financial value or assets.
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