The deadweight loss from a tax is the reduction in producer and consumer surplus minus the tax revenue transferred to the government

The quantity theory of money:

A) assumes that the ratio of money supply to nominal GDP decreases over time. B) assumes that the ratio of money supply to nominal GDP increases over time. C) is a representation of how a change in money supply affects the price level in an economy. D) is an exact representation of how the economy behaves in the long-run.

Inside information

A) applies to proprietorships only. B) applies to proprietorships and partnerships only. C) applies to corporations only. D) applies to all forms of business.