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Chapter 11 Section 2

Self-explanatory

TermDefinition
Direct tax A tax that must be paid by the person on whom it is levied
Indirect tax A tax levied on one party but passed on to another for payment
Deficit financing Practice of funding government by borrowing to make up the difference between government spending and revenue
Public debt All of the money borrowed by the government and not yet repaid, plus the accrued interest on that money; also called the national debt or federal debt
Created by: Parisiscool
Popular American Government sets

 

 



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