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Simplify the numerical expression and express your answer in reduced form.
Income Tax
A tax levied by the government directly on financial income generated by all entities within their jurisdiction.
Commitment Savings
Financial products designed to help individuals save money by restricting access to funds until certain conditions are met or time has passed.
Behavioral Insights Team
A group or organization that applies psychological insights into human behavior to improve public policy, services, and outcomes.
Nudging
A concept in behavioral economics wherein indirect suggestions and positive reinforcements influence behaviors and decision-making.
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