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A Tax Is Efficient If It Imposes a Small Excess

question 121

True/False

A tax is efficient if it imposes a small excess burden relative to the tax revenue it raises.


Definitions:

Procedural

Related to or involving a specific procedure or method of doing something, often within a legal or organizational context.

Implicit

Something that is implied or understood though not directly expressed or stated.

Wisdom

The ability to apply knowledge, experience, understanding, and insight to make sound judgments and decisions.

Apathetic

Showing or feeling no interest, enthusiasm, or concern towards subjects or matters, often characterized by a lack of emotion or motivation.

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