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Perfectly Elastic
Describes a situation in which the quantity demanded or supplied changes infinitely with even the smallest change in price.
Perfectly Inelastic
A situation where the demand or supply for a good does not change in response to changes in price.
Single Tax
A system where only one type of tax is levied, often proposed for simplifying the tax system.
Henry George
An American economist known for his advocacy of a single land tax and author of "Progress and Poverty," which argues land should be owned communally to address social inequalities.
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