Instructions: Identify the Following Terms

question 2

Short Answer

Instructions: Identify the following terms.
Fidel Castro and the "Bay of Pigs"

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Definitions:

Consumer Surplus

The difference between the amount consumers are willing to pay for a good or service versus what they actually pay.

Tax Imposed

A financial charge or other levy placed upon an individual or a legal entity by a governmental organization.

Tax Revenue

The financial resources collected by the government from its citizens, businesses, and other entities through various taxes.

Tax Increase

A tax increase refers to a governmental decision to raise the amount of tax imposed on goods, services, or income.