William and Jamal live in the country of Dumexia. When Dumexia legalized international trade in bananas, the price of bananas in Dumexia increased. As a result, William became better off and Jamal became worse off. It follows that William is a seller, and Jamal is a buyer, of bananas
a. True
b. False
Indicate whether the statement is true or false
True
Economics
You might also like to view...
We go from Gross to Net Domestic Product by
A) adding depreciation to GDP. B) subtracting depreciation from GDP. C) adding indirect business taxes to GDP. D) subtracting indirect business taxes from GDP.
Economics
What insights into the macroeconomic consequences of financial frictions arise from the new Keynesian model?
What will be an ideal response?
Economics