A deadweight loss occurs ________ in a market.
A. only when there is overproduction
B. when there is underproduction or overproduction
C. when there is efficient production
D. only when there is underproduction
Answer: B
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The exchange of one good for another, without the use of money, is known as:
a. acquisitive exchange. b. liquidity. c. volatility. d. barter. e. currency.
In the 1980s, some states in the United States had significantly more bank failures than other states. What industries did the former states depend on heavily?
a. Oil and agriculture b. Tourism c. Defense and aeronautics d. Construction and textiles e. The computer industry
Which country has the largest net public debt as a percent of GDP?
a. United States b. France c. Japan d. Canada
Suppose the civilian non-institutional population equals 250,000; there are 132,500 employed persons and 10,000 unemployed persons. How many persons are not in the labor force?
A) 122,500
B) 77,500
C) 63,500
D) 107,500