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Using the concept of elasticity, explain why sin taxes (excise taxes on alcohol and tobacco) are popular with taxing authorities.
Financial Lease
A type of lease where the lessee assumes some of the risks and benefits of ownership of the leased asset.
Fully-Amortized
Describes a loan in which all payments will be made on time and in full over the life of the loan, resulting in the complete payoff of the loan amount and interest.
Insurance
A financial product that provides protection against potential future losses or damages.
Financial Leases
Financial leases are long-term leases in which the lessee is responsible for maintenance, taxes, and insurance, essentially treating the leased asset as if it were owned.
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