When the price of a good is measured in dollars, then the size of the deadweight loss that results from taxing that good is measured in
a. units of the good that is being taxed.
b. units of a related good that is not being taxed.
c. dollars.
d. percentage change.
c
Economics
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Which of the following is the basic measure of a nation's economic growth rate?
(A) Nonmarket activities over a given period of time. (B) Percentage change of real GDP over a given period of time. (C) Standard of living over a given period of time. (D) Leading indicators over a given period of time.
Economics
Suppose a union successfully negotiates for its members a wage rate that is above the competitive wage rate, then
A) there will be a surplus of jobs. B) antitrust laws become effective. C) there will be downward pressure on the wage rate until equilibrium is established. D) there will be an excess supply of labor.
Economics