Author Question: Elsie owns a dairy farm and Elmer is a baker. If Elsie trades butter and milk for some of Elmer's ... (Read 64 times)

KimWrice · **on:** Jun 30, 2018

Elsie owns a dairy farm and Elmer is a baker. If Elsie trades butter and milk for some of Elmer's pies than:
a. Elsie is the only one that gains from the trade.
b. Elmer is the only one that gains from the trade.
c. Elsie and Elmer are both made better off by the trade.
d. Both Elmer and Elsie are made worse off by the trade.

Question 2

Which of the following did not result in economic growth?
a. Installing a network of irrigation ditches and pumping stations in order to grow fruits and vegetables in parts of southern California
b. Cyrus McCormack inventing a threshing machine for harvesting grains
c. After World War II, the U.S. instituting the GI bill, which provided education subsidies to soldiers being released from service duty
d. Many citizens emigrating from a nation when a politically repressive regime takes office