The Loss in Total Surplus Resulting from a Tax Is

question 100

Multiple Choice

The loss in total surplus resulting from a tax is called

• A)a deficit.
• B)economic loss.
• C)deadweight loss.
• D)inefficiency.

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Definitions:

Average Collection Period

The average number of days it takes for a business to receive payments from its customers for invoices.

Accrued Salaries

Wages that have been earned by employees but have not yet been paid out.

Fixed Assets

Long-term tangible assets that are used in the operations of a business and are not intended to be sold within a year.

Average Collection Period

The average number of days it takes for a company to collect payments from its credit sales.