The quantity of items circulating in the economy that can be used as money is called

The deadweight loss associated with output less than the competitive level can be determined by

A) subtracting the competitive level producer surplus from the producer surplus associated with less output. B) subtracting the consumer surplus from the producer surplus associated with less output. C) summing the consumer and producer surplus associated with less output. D) summing the change in the total consumer and producer surplus from moving from the competitive level of output to less output.

According to the Laffer curve, after raising the tax rate to some level, any further increase by government will cause tax revenues to decrease

Indicate whether the statement is true or false