Which of the following statements about exchange is false?
a. The expectation of gain motivates people to engage in trade.
b. If a party to a potential exchange does not believe that it will lead to personal gain, he or she can chose not to engage in the trade.
c. Voluntary exchange is generally mutually beneficial to the trading partners.
d. If one trading partner gains, the other must lose.
D
Economics
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What will be an ideal response?
Economics
If the government purchases multiplier equals 2, and real GDP is $14 trillion with potential real GDP $14.5 trillion, then government purchases would need to increase by ________ to restore the economy to potential real GDP
A) $7.25 trillion B) $1 trillion C) $500 billion D) $250 billion
Economics