extra terms Flashcards
1
Q
imposing tax on imported rice
A
rice tariffication law
2
Q
excess production
A
surplus
3
Q
same job, different wage
A
wage gap
4
Q
increase in prices
A
inflation
5
Q
benefit given to individuals, businesses or institution usually by the government
A
subsidy
6
Q
what’s there and what’s needed
A
supply and demand
7
Q
price mechanisms/control
A
price act
8
Q
maximum price
A
price ceiling
9
Q
short term, temporary solution
A
band-aid solution
10
Q
tax on cinemas, theatres, concert halls, circuses, and other places of amusement
A
Cultural and Amusement Tax
11
Q
amount of money needed to repay debt
A
debt servicing
12
Q
small excess of production
A
buffer supply
13
Q
how much money does PH lose on traffic per day
A
1.3B pesos
