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Economics 14th Edition by James Gwartney,Richard Stroup, Russell Sobel ,David Macpherson
Edition 14ISBN: 978-1133561644Economics 14th Edition by James Gwartney,Richard Stroup, Russell Sobel ,David Macpherson
Edition 14ISBN: 978-1133561644 Exercise 2
"If Jones trades a used car to Smith for $5,000, nothing new is created. Thus, there is no way the transaction can improve the welfare of people." Is this statement true? Why or why not?
Explanation
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No, the statement is not true. The buyin...
Economics 14th Edition by James Gwartney,Richard Stroup, Russell Sobel ,David Macpherson
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