Examlex
In 2015,Allison drove 800 miles to volunteer in a project sponsored by a qualified charitable organization in Utah.In addition,she spent $250 for meals while away from home.In total,Allison may take a charitable contribution deduction of $112 (800 miles × $.14) relating to her transportation.
Perfectly Elastic
Describes a situation in economics where the quantity demanded or supplied can change infinitely with any change in price.
Upward-Sloping
A scenario where higher levels of a certain variable lead to higher levels of another variable, typically seen in supply curves where higher prices lead to higher quantities supplied.
Tax Incidence
The analysis of the effect of a particular tax on the distribution of economic welfare, focusing on who ultimately bears the burden of the tax.
Externality Analysis
The study of costs or benefits that affect parties who did not choose to incur that cost or benefit, typically used in the context of environmental and public policy.
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