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Suppose that you are part of a small religious discussion group and that, after several months in the group, you start to notice some disturbing patterns in the group's behaviors: Everyone always agrees with one another; no one ever expresses disagreements; outside views are shunned; and the group seems to feel that it is invulnerable and morally superior to other groups. If you have a good memory for your social psychology reading, then you should suspect that your group is suffering from ____________________.
Burden Of The Tax
The impact of a tax on the economic welfare of individuals, showing who ultimately bears the cost of the tax.
Excise Tax
A direct tax placed on manufactured goods, and is often levied at the time of manufacture, rather than at sale.
Inelastic Supply
A market condition where the quantity supplied of a good does not change significantly when its price changes.
Inelastic Demand
The case in which the price elasticity of demand is less than 1.
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