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What type of mnemonic is the peg word method?
Tax Incidence
The study of who ultimately bears the economic burden of a tax, whether producers or consumers.
Inelastic Demand
A situation where the demand for a product does not significantly change with a change in its price.
Excise Tax
A tax levied on the sale of particular goods and services, such as alcohol, tobacco, and gasoline.
Pretax Equilibrium
The market condition where supply and demand balance before any taxes are applied.
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