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turnover tax (H2)<br />A tax levied on the value of the sales revenue of a firm. It is distortionary in that the total tax paid will be higher for goods passing through several firms to their final sale than for those which do not.
industrial muscle (J5)<br />The ability of a group of workers to press a demand for increased wages or improved working conditions because they are in an industry producing essential goods or services. Workers in energy and transport industries have usually been more powerful in COLLECTIVE BARGAINING because the withdrawal of their labour creates a crisis in a national economy.<br /><em>See also:</em> strike
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