What is the total welfare from trade as shown in Exhibit 2?
a. + a
b. + d
c. a + b + c + e + f
d. a + b + c + d + e + f
d. a + b + c + d + e + f
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If the value of a price index was 125 for 2005 and 75 for 1982, and GDP was 2500 in 2005 compared to 600 in 1982, the value of real 2005 GDP in terms of 1982 prices is
a. 1500. b. 1000. c. 2500. d. 360.
Consider two people, Sandy Roos, who earns $25,000 . and Gary Behrman, who earns $50,000 . If the government has decided to tax everyone's first $25,000 at 20 percent and everyone's second $25,000 at 40 percent, then
a. Gary and Sandy both pay taxes of the same percentage of total income b. Gary and Sandy pay the same amount of taxes c. Gary pays twice the tax amount Sandy pays d. Gary pays three times the tax amount Sandy pays e. Sandy does not pay taxes
"Correlation" is a measure of how one variable causes another to change
a. True b. False Indicate whether the statement is true or false
A new government study reveals that daily consumption of peanut butter increases life expectancy by 10 years. What will this do to the input markets for peanuts and peanut butter factory workers? Assuming bologna is a substitute for peanut butter, what will happen in the market for bologna factory workers?