A Subsidy Is Similar to a Reverse Tax-Instead of Taking

question 86

True/False

A subsidy is similar to a reverse tax-instead of taking money away from buyers (or sellers), the government gives money back to buyers (or sellers).

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Definitions:

Bequest

In a will, a gift of personal property or money. Also called a legacy.

Personal Property

Refers to movable assets owned by individuals or businesses, excluding real estate.

Estate

Everything that a person owns at the time of their death, including property, assets, and debts, which is managed or settled according to their will or the law.

Residuary

The remainder of an estate left after all other bequests and claims have been satisfied.