Suppose Tim has $1,000 in cash on hand to buy collectable baseball cards at a swap meet. Tim often sells these cards at a profit. This is an example of the

When potential GDP increases, is it necessarily the case that real GDP increases as well? Explain

What will be an ideal response?

Tariffs and quotas create a loss in social welfare because

A) producer surplus declines. B) revenues from tariffs are misspent. C) consumer surplus declines. D) All of the above.