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Flashcards - Role of Government in Macroeconomics

Flashcards - Role of Government in Macroeconomics
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tax credit
A tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit from the total they owe the state
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tax credit
A tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit from the total they owe the state
tax deduction
Tax deduction is a reduction of income that is able to be taxed, and is commonly a result of expenses, particularly those incurred to produce additional income
oligopoly
An oligopoly is a market form in which a market or industry is dominated by a small number of sellers

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