All Developing Countries Suffer from a Critical Shortage Of

question 72

Multiple Choice

All developing countries suffer from a critical shortage of:

• A) Land
• B) Population
• C) Capital goods
• D) Government regulation

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Definitions:

Tax Revenue

The income governments procure through the levy of taxes.

Consumer Surplus

The variance between the total consumers are prepared to invest in a good or service and what they end up investing.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the higher market price they actually receive.

Tax Revenue

Funds acquired by governments from taxation, employed to support public programs and fulfill government responsibilities.