Houston trades his golf club for Austin's tennis racket, and both are happy with the exchange. This is an example of Pareto efficiency.
Answer the following statement true (T) or false (F)
False
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Between 1981 and 2012, the United States
A) had a current account surplus almost every year. B) some years had a deficit and some years had a surplus that totaled a surplus of $2.5 trillion. C) had a current account surplus or deficit that almost equal to $0 every year. D) had a current account deficit almost every year. E) some years had a deficit and some years had a surplus that netted out to $0.
The only purpose of labor unions is to form a more cohesive bargaining entity to offset the bargaining power of employers in the labor market
Indicate whether the statement is true or false
The primary benefit of a monetary system of exchange compared to a barter system is the increased
a. ability to record transactions. b. time necessary to find trading partners. c. time devoted to shopping. d. efficiency in arranging transactions.
Deadweight loss
What will be an ideal response?