________ Is an Entry in the Balance of Payments Measuring

question 31

Multiple Choice

________ is an entry in the balance of payments measuring the difference between the monetary value of merchandise exports and merchandise imports.

• A) Balance of payments
• B) Balance of trade
• C) Import-export spread
• D) None of the above

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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.