The lowest the poverty rate has been during the last 50 years was in

A normative statement concerns

A) what is provable. B) what is correct. C) what is incorrect. D) a value judgment.

James has a comparative advantage in the production of corn, while Harry has a comparative advantage in the production of bread. If James and Harry decide to trade with each other, _____

a. both Harry and James will enjoy gains from trade b. only Harry will enjoy gains from trade c. only Harry will suffer losses from trade d. only James will suffer loses from trade e. neither of them will gain from trade