1 total surplus in a market does not change when the, Ask an Expert

Economics

1. Total surplus in a market does not change when the government imposes a tax on that market because the loss of consumer surplus and producer surplus is equal to the gain of government revenue.

a. True

b. False

2. Taxes cause deadweight losses because they prevent buyers and sellers from realizing some of the gains from trade.

a. True

b. False

3. Taxes on labor tend to encourage second earners to stay at home rather than work in the labor force.

a. True

b. False

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91521741

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