When a tax is imposed and some of the lost surplus becomes tax revenues, the group that benefits is:
A. consumers.
B. producers.
C. recipients of government services.
D. Only the government benefits from that lost surplus.
C. recipients of government services.
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Which describes the economic meanings of value and price?
A) Value is exchange worth minus marginal benefit, and price is the dollars that must be paid. B) Value is the marginal benefit obtained, and price is the dollars that must be paid. C) Value refers to the gain the producer gets from the good or service, and price refers to the gain the consumer gets from the good or service. D) Value refers to the dollars that must be paid, and price refers to the cost of producing the good. E) They are the same and both mean the dollars that must be paid.
Borrowing from another country that occurs when the country has a trade deficit and its citizens sell real and financial assets to foreigners is called a capital inflow
Indicate whether the statement is true or false