What Is the Difference Between an Inheritance Tax and an Estate

question 14

Essay

What is the difference between an inheritance tax and an estate tax? Who imposes these taxes?

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Definitions:

Nash Equilibrium

A concept in game theory where each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only their own strategy.

Sequential Game

A strategic situation where players make decisions one after another, with each player aware of the previous players' actions before choosing their strategy.

Simultaneous Move Games

A scenario in game theory where all players make their decisions or moves at the same time, without knowledge of the others' choices.

Nash Equilibrium

A concept in game theory wherein each player's strategy is optimal given the strategies of other players, resulting in no incentive to deviate unilaterally from their strategy.