Jim Has an Old (Working) Television That He Would Like

question 59

Multiple Choice

Jim has an old (working) television that he would like to get rid of now that he has purchased a new high-definition, flat-screen television. The old television is no longer worth anything to him now that he has his new flat-screen TV. Veronica on the other hand has an even older television that has just broken down. She would pay up to $50 for any working TV. Which of the following statements is NOT true?

• A) If Jim trades Veronica his old television for $50, total value in society increases by $50.
• B) If Jim trades Veronica his old television for $50, both are better off but total value in society does not increase.
• C) If a middleman facilitates the $50 trade between Jim and Veronica, but takes a $10 finders' fee, Jim and Veronica will still both be better off.
• D) If Jim and Veronica do not trade, both are worse off than if they did trade.

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Definitions:

Endoderm

The deepest layer of tissue or cells in an embryo during its initial stages of development, responsible for forming the digestive and respiratory system linings.

Extracellular Matrix

Nonliving chemical substances located between connective tissue cells.

Connective Tissue

Tissue type that supports, connects, or separates different types of tissues and organs in the body, with varieties including bone, fat, and blood.

Epithelial Tissue

Sheets of tightly packed cells that line organs and body cavities, serving as protection, secretion, and absorption.