Lake Tanganyika and Lake Nyasa Both Form from Waters That

question 52

True/False

Lake Tanganyika and Lake Nyasa both form from waters that occupy the downdropped rift valley of the East African Rift.

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Definitions:

Tax Incidence

The study of who ultimately bears the economic burden of a tax, whether producers or consumers.

Inelastic Demand

A situation where the demand for a product does not significantly change with a change in its price.

Excise Tax

A tax levied on the sale of particular goods and services, such as alcohol, tobacco, and gasoline.

Pretax Equilibrium

The market condition where supply and demand balance before any taxes are applied.