Which of the following transactions is not an example of gains from trade? Items (7 items) (Drag and drop into the appropriate area below) Someone steals a bag of groceries from your car to feed his hungry children. The Philadelphia 76ers basketball team trades all of its young stars to the Los Angeles Lakers in exchange for draft picks. A group of friends agree that whoever bets on the loser of the Monday night game must pay $5 to whoever bets on the winner. Jason trades a rare Ricky Henderson rookie baseball card for a bag of socks. In the lunchroom, two cookies are traded for two granola bars. You purchase a lottery ticket and win a million dollars. One person pays another to mow her yard. Categories (Gains from trade Drag and drop here)( No gains from trade Drag and drop here)
Which of the following transactions is not an example of gains from trade?
3. Gains from trade Consider two neighboring island countries called Euphoria and Arcadia. They each have 4 million labor hours available per week that they can use to produce rye, jeans, or a combination of both. The following table shows the amount of rye or jeans that can be produced using 1 hour of labor. Initially, suppose Arcadia uses 1 million hours of labor per week to produce rye and 3 million hours per week to produce jeans, while Euphoria uses 3...