1. If Jones trades a used car to Smith for $5,000, nothing new is created. Thus, there...

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1. “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?

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Macroeconomics Private And Public Choice

ISBN: 9781111970628

14th Edition

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

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Question Posted: Oct 24, 2024 10:00 AM

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1. If Jones trades a used car to Smith for $5,000, nothing new is created. Thus, there...

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Macroeconomics Private And Public Choice

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