Examlex
Which of the following is part of an economic model?
Shifting of Taxes
The process by which the burden of a tax is transferred from one party, such as the seller, to another, such as the buyer.
Perfectly Inelastic
A situation where the demand for a product does not change in response to a change in price.
Excise Tax
A tax levied on specific goods, services, or transactions, often based on quantity purchased rather than value, such as taxes on cigarettes, alcohol, and fuel.
Excise Tax
A tax imposed on specific goods or services at purchase such as gasoline, tobacco, and alcohol.
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