We benefit from trade if we are able to obtain a good from a foreign country by giving up more of other goods than we would have to give up to obtain the good at home
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Only three goods are produced in an economy in the following amounts: A = 10, B = 30, C = 5
The current year per unit prices of these three goods are A = $2, B = $3, and C = $1. (Advanced analysis) Refer to the information. If the per unit prices of the three goods were each $1 in a base year used to construct a GDP price index, then real GDP in the current year is: A. $110. B. $115. C. $45. D. $160.
Economics
Briefly explain the case for a negative income tax.
What will be an ideal response?
Economics