Term
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Definition
| a good or service whose consumption by one person does not exclude consumption by others |
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Term
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Definition
| an individual who reaps direct benefits from someone else's purchase of a public good |
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Term
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Definition
| a firm that produces the entire market supply of a particular good or service |
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Term
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Definition
| gov. intervention to alter market structure or prevent abuse of market power |
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Term
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Definition
| a tax that system in which tax rates rise as incomes rise |
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Term
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Definition
| a tax system in which tax rates fall as incomes rise |
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Term
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Definition
| theory of public sector behavoir emphasizing rationla self interest of decision makers and voters |
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