1.The gains from trade are

Profits minus costs

The consumer surplus minus the producer profits

Revenue minus costs

The consumer surplus plus the producer profits

2.A general tendency for prices to fall is called

GDP contraction

Deflation

Recession

Depression

3.A recession is

Two consecutive quarters of economic contraction

A stock market crash

A spike in unemployment

A financial contagion

4.Stay at home dads are counted as

Out of the labour force

Unemployed

Employed

Underemployed

5.Gasoline has an inelastic demand curve. If supply were to decrease because of a hurricane in Texas, we would see

Prices change a little and quantity sold change a little

"Prices change a little, but quantity sold change a lot"

Prices change a lot and quantity sold change a lot

"Prices change a lot, but quantity sold change a little"

6.The paradox of thrift says

"If we all save, we all are richer"

"If we all spend, we all are poorer"

"If we all save, we all are poorer"

"If deficits accumulate, we all are richer"