If Happy Cows, a dairy firm, merges with Best Cartons, a manufacturer of dairy cartons, and the combined firm is able to reduce the number of executive managers, the merger created ________.

Because pollution reduces economic welfare, on this count real GDP as measured

A) decreases as pollution increases. B) increases to take into account the expenditures that will be made in the future to clean up the pollution. C) overstates economic welfare. D) understates economic welfare.

Given the information in the table above, Foreign's opportunity cost of widgets is

A) 0.5. B) 2.0. C) 6.0. D) 1.5. E) 3.0.