Examlex
All of the following statements are true EXCEPT:
Economic Decisions
Choices made by individuals, businesses, or governments regarding the allocation of scarce resources to satisfy needs and desires.
Excess Burden
The loss of economic efficiency that occurs when a tax or government policy distorts consumer behavior or market outcomes, leading to a decrease in total welfare.
Tax Revenue
The financial gains obtained by governments from tax collection.
Deadweight Loss
A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is unachievable.
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