Refer to the information provided in Figure 24.3 below to answer the question(s) that follow. Figure 24.3Refer to Figure 24.3. The expenditure multiplier is

Refer to Table 16.1. Which of the following statements is correct?

A) There are potential gains from trade if: (1 ) Mexico specializes in the production of tomatoes, (2 ) Guatemala specializes in the production of beer, and (3 ) Mexico trades tomatoes to Guatemala for beer. B) There are potential gains from trade if: (1 ) Mexico specializes in the production of beer, (2 ) Guatemala specializes in the production of tomatoes, and (3 ) Mexico trades beer to Guatemala for tomatoes. C) There are no potential gains from trade because Mexico has an absolute advantage in the production of beer and tomatoes. D) There are no potential gains from trade because Guatemala has an absolute advantage in the production of beer and tomatoes.

In 1955, the marginal tax rate for a married couple with a taxable income over $400,000 was

A. 91 percent. B. 30 percent. C. 35 percent. D. 85 percent.