In Northern Europe and in Countries Such as the United

question 5

Multiple Choice

In northern Europe and in countries such as the United States, the United Kingdom, and Canada, when do children generally leave home?

• A)at the end of adolescence
• B)at the beginning of emerging adulthood
• C)at the end of emerging adulthood
• D)at the beginning of young adulthood

---

Definitions:

Deadweight Loss

Deadweight loss is a loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable, often due to market failures, taxes, or subsidies.

Excise Tax

A tax levied on specific goods or services at purchase such as alcohol, tobacco, and gasoline.

Elastic

Describes a situation in which the demand for a product or service significantly changes in response to a change in its price.

Deadweight Loss

A loss of economic efficiency that can occur when the free market equilibrium for a good or a service is not achieved.