The Average Size of a Family Farm in China Is

question 3

Multiple Choice

The average size of a family farm in China is ________ acres.

• A)75
• B)10
• C)5
• D).5

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Definitions:

Excess Burden

The economic loss to society due to market inefficiencies, often associated with taxes or other government policies that distort market behavior beyond the revenue raised or spending undertaken.

Net Worth

The difference between the total assets and total liabilities of an individual, company, or entity.

Liabilities

Financial obligations or debts that a business or individual owes to others.

Assets

Resources owned by a business or individual that have economic value and can provide future benefits.