Economic theory

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Across
  1. 4. What is a loss of efficiency due to taxation?
  2. 6. What term refers to unrestricted trade between nations?
  3. 9. What is the act of buying goods from other countries?
  4. 12. What is the allocation of resources to maximize total surplus?
  5. 13. What measures the benefit buyers receive?
  6. 14. What is the revenue collected by the government called?
  7. 15. What is the act of selling goods to other countries?
Down
  1. 1. What type of curve represents the relationship between tax size and revenue?
  2. 2. What is the term for resources wasted in tax avoidance?
  3. 3. What happens when taxes distort market outcomes?
  4. 5. What is a tax on imports called?
  5. 7. What is the benefit sellers receive for selling?
  6. 8. What is the total surplus in a market called?
  7. 10. What is the term for limits on the quantity of imports?
  8. 11. What is the amount a buyer is willing to pay minus the price