Which of the following is a measure of economic growth that is most useful for comparing living standards?

Bananas in the European Union often retail for twice more than they do in the U.S. What is the most likely explanation for this fact?

A) A complicated system of tariffs and quotas that the EU has imposed to control the imports of bananas. B) More significant freight costs to ship bananas from Central America. C) Larger markup by European retailers. D) None of the above.

Paul Krugman has stated that international trade is really about geography

Indicate whether the statement is true or false