Examlex
Which of the following equations correctly measures GDP in an economy?
Excess Burden
The cost to society created by market inefficiency, which occurs when supply and demand are out of equilibrium, often due to taxation or other government intervention.
Revenue Derived
Income generated from normal business operations or other specific sources.
Tax Rate
The per-unit amount of the tax or the percentage rate at which the economic activity is taxed.
Tax Burden
The aggregate sum of taxes that individuals or businesses remit, correlated to their earnings or profits.
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