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Deadweight Loss

Group 3

Deadweight Loss Crossword Puzzle

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1.These type of Economics were first publicized by Congressman Jack Kemp in his Jobs Creation Act, 1975.
4.When a _______ externality exists in an unregulated market producers don’t take responsibility for external costs that exist
5.A Charge against a citizen's person or property or activity for the support of government is this
6.When supply is relatively ___, the deadweight loss of a tax is small
7.When demand is relatively ___, the deadweight loss of a tax is large
8.Goods that are in-elastic have a demand and supply that remains relatively _______ regardless of price
2.the fall in total surplus that results from a market distortion, such as a tax
3.this curve is named after an economist who drew a figure on a napkin to show how tax rates affect tax revenue

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