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An income tax is proportional if

An income tax is proportional if

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An increase in the demand for a product will cause the

An increase in the demand for a product will cause the

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The imposition of price ceilings on a market often results i…

The imposition of price ceilings on a market often results in

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When economists say the supply of a product has decreased, t…

When economists say the supply of a product has decreased, they mean that

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In voluntary exchange, if the seller of a product gains,

In voluntary exchange, if the seller of a product gains,

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Two goods are considered substitutes only if

Two goods are considered substitutes only if

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Economic theory

Economic theory

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A black market is a market

A black market is a market

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A middleman is a person who

A middleman is a person who

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A legal system that provides secure private property rights…

A legal system that provides secure private property rights and unbiased enforcement of contracts

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