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Laws Are Created to Protect Society, and Procedural Safeguards Are

question 120

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Laws are created to protect society, and procedural safeguards are created to protect which of the following?


Definitions:

Excess Burden

The amount by which the burden of a tax exceeds the total revenue collected. Also called deadweight loss.

Tax Revenue

The revenue collected by governments from taxes.

Tax

A compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization.

Excess Burden

The cost to society created by market inefficiency, particularly through taxation or other government policies, beyond the immediate financial effects.

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