The decrease in total surplus that results from a market distortion, such as a tax, is called a
a. wedge loss.
b. revenue loss.
c. deadweight loss.
d. consumer surplus loss.
c
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The English Parliament regulates companies that trade stock publicly through a law known as the:
A. Leverage Act. B. Bubble Act. C. Company Act. D. Anti-Corruption Act.
A shift in the demand curve for sailboats resulting from an increase in incomes will lead to
a. higher prices of sailboats. b. lower prices of sailboats. c. a corresponding shift in the supply curve for sailboats. d. lower output of sailboats. e. no change in the price of sailboats.
If interest rates rose more in the U.S. than in France, then other things the same
a. U.S. citizens would buy more French bonds and French citizens would buy more U.S. bonds. b. U.S. citizens would buy more French bonds and French citizens would buy fewer U.S. bonds. c. U.S. citizens would buy fewer French bonds and French citizens would buy more U.S. bonds. d. U.S. citizens would buy fewer French bonds and French citizens would buy fewer U.S. bonds.
The marginal rate of technical substitution is the ratio of
A. labor to the price of labor. B. the marginal product of labor to the marginal product of capital. C. capital to labor. D. capital to the price of capital.