Chapter 6

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Flashcards by murphy94, updated more than 1 year ago
murphy94
Created by murphy94 over 5 years ago
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Supply, Demand, and Government Policies

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Question Answer
Price Ceiling a legal maximum on the price a good can be sold
Price Floor a legal minimum on the price at which a good can be sold
Tax Incidence the manner in which the burden of a tax is shared among participants in a market
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