A deadweight loss
A) is possible only if the good is underproduced but is not possible if the good is overproduced.
B) subtracts only from producer surplus.
C) is a loss to consumers and a gain to producers.
D) is a loss inflicted on the entire society.
D
Economics
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The importance of international trade in the U.S. economy
A) has been decreasing and is expected to continue to decrease. B) has been decreasing but is expected to start to increase. C) has been increasing and is expected to continue to increase. D) has been increasing but is expected to decrease in the future.
Economics
Define the following terms briefly and concisely and indicate their importance to the study of economics
a. entrepreneurship b. investment c. capital d. innovation e. discounting
Economics