Economics 101 Practice Test: The Tax System — Flashcards | Economics 101 | FatSkills

Economics 101 Practice Test: The Tax System — Flashcards

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Taxation is a term for when a taxing authority, usually a government, levies or imposes a financial obligation on its citizens or residents.

Related Test: Economics 101 Practice Test: Taxation

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In designing a tax system, policymakers have two objectives:
equity and efficiency.
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