Write True or False to the Statements Below

question 44

True/False

Write True or False to the statements below.If the statement is false, rewrite the underlined word or phrase to make the statement true.
-Because the Dutch had used Indonesia largely for its tropical crops and invested little in transportation, health, or education in the region, Indonesia was extremely poor when it gained its independence from the Netherlands in 1949.

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Definitions:

Deadweight Loss

The loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved, leading to an underproduction or overproduction of that good or service.

Deadweight Loss

A loss of economic efficiency that occurs when the equilibrium outcome is not achieved or when the market does not allocate resources at the optimal point.

Tax Revenue

The profit derived by governments from tax collection.

Producer Surplus

The difference between the amount that producers are willing to accept for a good or service versus what they actually receive in the market.