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FICA Taxes
Taxes levied by the Federal Insurance Contributions Act in the United States to fund Social Security and Medicare programs, deducted from workers' paychecks.
Income Taxes
Taxes imposed by a government on individuals or entities based on their income or profits.
Deadweight Loss
A loss of economic efficiency that occurs when the equilibrium outcome is not achievable or not achieved in a market.
Administrative Cost
Expenses related to the general operation of a business, including office supplies, salaries of non-production staff, and rent.
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