Financial Policy Vocabulary

noun a tax imposed on top of an existing tax

verb not applicable

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• The government imposed a surtax on luxury goods in order to generate additional revenue.
• I can't believe how much surtax they added to my phone bill this month.
• I'm so fed up with all these sneaky surtaxes on everything we buy.
• The emotional toll of the breakup felt like a surtax on my already stressed-out mind.

noun the process of adopting or using the US dollar as the official currency of a country

• The process of dollarization involves a country adopting the US dollar as its official currency.
• Dollarization is when a country starts using the US dollar instead of their own currency.
• Some people believe that dollarization is a way for countries to stabilize their economies.
• In the world of finance, dollarization is seen as a way to attract foreign investment.