Examlex
The Bohr theory explains that an emission spectral line is due to an electron losing energy and changing orbits.
Second Best
A situation or solution that is accepted in the absence of a preferred option.
Distortionary Tax
A type of tax that causes consumers and producers to change their behavior in order to avoid paying the tax.
Tax Distortion
Describes how taxes can alter market behavior and lead to efficiency loss compared to an untaxed market.
Optimal Taxation
The theory or practice of determining the most efficient and effective way of levying taxes to generate government revenue with minimal economic distortion or inefficiency.
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