Examlex
Welfare recipients are often criticized because they can remain indefinitely on programs such as Temporary Assistance for Needy Families.
Tax Burden
The total amount of taxes paid by individuals or businesses relative to their income, often discussed in the context of debates over fairness and economic policy.
Elastic
Describes a situation in which the demand or supply for a good or service changes significantly when its price changes.
Inelastic
A situation in which the demand or supply for a product does not change significantly in response to price changes.
Fixed Productive Capacity
The maximum output that an economy can produce without increasing inflation, assuming resources are fully utilized.
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