When equilibrium GDP is greater than potential GDP, jobs are plentiful and labor is in great demand

The view of mercantilists can be summarized as follows

A) to sell less to strangers yearly than we consume of theirs in value. B) to sell more to strangers yearly than we consume of theirs in value. C) to consume more of theirs in value than we sell to strangers. D) to consume the same amount as theirs in value as we sell to strangers. E) to sell gold and silver to strangers in exchange for services.

In general, the optimal taxation literature finds that a society can maximize social welfare through income redistribution

a. True b. False