Examlex
If a unit tax is used to internalize the consumption externality of chemical use, it achieves efficiency if it is set equal to the MSB at the efficient output level.
Present Value
The present value of a future amount of money or series of cash flows using a predetermined rate of return.
Perpetuity
A financial term for a stream of cash payments that continue indefinitely.
Semi-Annually
A term indicating something occurs twice a year.
Endowment Fund
A financial asset, often in the form of a donation to institutions, where the principal remains intact and only the investment income is used.
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