Under the Terms of a 1999 Trade Pact Between China

question 54

True/False

Under the terms of a 1999 trade pact between China and the United States,foreign companies cannot own more than 50 percent of an Internet business in China.

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Definitions:

Tax Burden

The measure of the impact of taxation on an individual's or entity's income, assets, or purchasing power.

Elastic

Describes a situation in economics where the supply or demand for a good or service is sensitive to changes in price. In other words, a small change in price results in a larger change in quantity demanded or supplied.

Tax Burden

The measure of the total amount of taxes that an individual or business must pay, relative to their income or profit.

Yachts

Luxury vessels used for personal or recreational purposes, often considered a symbol of wealth and luxury.