Dale is a guitar teacher and Terrence is a tile layer. If Dale teaches Terrence's daughter to play the guitar in exchange for Terrence tiling Dale's kitchen floor,
a. only Dale is made better off by trade.
b. only Terrence is made better off by trade.
c. both Dale and Terrence are made better off by trade.
d. neither Dale nor Terrence are made better off by trade.
c
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Losers from inflation include:
a. savers and borrowers. b. landlords and the government. c. borrowers and the government. d. those on a fixed income and borrowers. e. those on a fixed income and savers.
Monopolistically competitive markets feature heterogeneous products
a. True b. False Indicate whether the statement is true or false
In 2015, Medicare cost taxpayers
A. $2 trillion. B. $2 billion. C. $630 billion. D. $2 million.
The short-run industry supply curve for a perfectly competitive industry is the
A. horizontal sum of the individual firms' marginal cost curves above ATC. B. vertical sum of the individual firms' marginal cost curves above ATC. C. horizontal sum of the individual firms' marginal cost curves above AVC. D. vertical sum of the individual firms' marginal cost curves above AVC.