Clichés Are Words That Have Been So Overused They Have

question 36

True/False

Clichés are words that have been so overused they have lost meaning and impact.

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Definitions:

Policymaker

An individual or group responsible for making decisions and policies that affect a country's economy, society, or institution.

Deadweight Loss

The loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved due to market inefficiencies or interventions.

Tax Per Unit

A tax that is levied on a product based on the amount of the product sold, not on its value.

Consumer Surplus

The incongruity between what consumers are willing to expend on a good or service and what they truly expend.