Mutual Gains from Voluntary Trade Require Differences in

question 152

Multiple Choice

Mutual gains from voluntary trade require differences in

• A) internal costs.
• B) implicit costs.
• C) opportunity costs.
• D) import tariffs.
• E) external costs.

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Definitions:

Dependent Variable

A variable in experimental and observational research that is assumed to depend on or be caused by another variable (the independent variable).

Nominal

Pertaining to data classified into categories without a natural order or rank.

Beliefs Regarding Same Sex Marriage

Opinions or convictions individuals hold about the legality and acceptability of marriage between individuals of the same sex.

Independent Variable

A variable that is manipulated to determine its effects on a dependent variable in an experimental setting.