When voluntary exchange takes place, neither party gains from the exchange
Indicate whether the statement is true or false
FALSE
Economics
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To measure economic welfare, one needs only to measure real GDP
Indicate whether the statement is true or false
Economics
As of 2008, the members of the WTO account for what percentage of world trade?
A) 3 percent. B) 23 percent. C) 57 percent. D) 97 percent
Economics
Which of the following is a liability of the Fed?
A) U.S. government securities B) currency in circulation C) discount loans to banks D) checkable deposits in commercial banks
Economics
Total surplus is in which type of market will be highest?
A. Perfect competition B. Monopoly C. Equally in perfect competition and monopoly D. Natural monopoly
Economics