As the size of a tax rises, the deadweight loss
a. rises, and tax revenue first rises, then falls.
b. rises as does tax revenue.
c. falls, and tax revenue first rises, then falls.
d. falls as does tax revenue.
a
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In 2017, about what percentage of goods and services sold in the United States was imported?
A. 5 percent B. 15 percent C. 22 percent D. 88 percent
The GDP is a measure of the market value of all final goods and services produced in the economy in a given time period.
Answer the following statement true (T) or false (F)
Which of the following would be best classified as a private good?
A) a missile defense system B) police force C) radio frequency D) clothing
Refer to the above figure. The supply curve is
A. perfectly elastic. B. perfectly inelastic. C. elastic at high prices and inelastic at low prices. D. unitary for all prices.