Use the Figure Below to Answer the Following Questions

question 87

Multiple Choice

Use the figure below to answer the following questions. Figure 6.3.2
-Refer to Figure 6.3.2.The deadweight loss from the sales tax is

• A)$50.
• B)$100.
• C)$200.
• D)$1,000.
• E)$150.

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Definitions:

Poor Country

A nation characterized by a low standard of living, low income per capita, and often lacking in basic infrastructure and services.

Rich Country

A nation characterized by a high gross domestic product (GDP) per capita, indicating a high standard of living, advanced technological infrastructure, and a well-developed economy.

Nonrenewable Resource

A nonrenewable resource is a natural resource that cannot be replenished or takes a very long time to replenish at the same rate it is consumed or used.

Saving Rates

The proportion of disposable income that is saved by households rather than spent on goods and services.