Consumption is $7 trillion, investment is $1.5 trillion, government expenditures are $2 trillion, government transfer payments are $1 trillion, exports are $1.50 trillion and imports are $1.25 trillion. What is GDP?

If Dana can paint his house faster than Luke, a professional house painter, then

a. Dana has a comparative advantage in house painting b. Dana has an absolute advantage in house painting c. Luke has a comparative advantage in house painting d. Luke has an absolute advantage in house painting e. Dana should always paint his own house

Members of IGA are advised by that organization to

A. hire less-qualified people to keep costs down. B. provide a level of service, community involvement, and types of goods Walmart does not. C. "out Walmart" Walmart by lowering prices. D. sell exactly the same goods Walmart does.