Which of the Following Markets Impose Deadweight Losses on Society

question 1

Multiple Choice

Which of the following markets impose deadweight losses on society?

• A) (i)and (ii)only
• B) (ii)and (iii)only
• C) (i)and (iii)only
• D) (i)only

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Definitions:

Economic Growth

The increase in the amount of goods and services produced by an economy over time, typically measured as the percent rate of increase in real gross domestic product (GDP).

Unemployment Rate

The level of the labor force that consists of individuals who are jobless but actively seeking employment.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing to invest in one option over another.

Alternative Given

A term used to describe a scenario or choice available apart from the primary option; however, without a specific economic or general established context, this phrase might be too broad or not specifically recognized as a distinct term.