For barter to occur there has to be
A) a commodity to serve as a medium of exchange. B) a single coincidence of wants.
C) a double coincidence of wants. D) a formal market where prices are quoted.
C
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The statement "If Harvey goes to Subway then Candice should go to Subway, and if Harvey goes to Taco Bell, then Candice should go to Taco Bell" is an example of locating equilibria by using the technique known as
A) mutual interdependence. B) cooperative coordination. C) cell-by-cell inspection. D) best-response analysis.
Mutual funds give individual investors a low-cost way to diversify
Indicate whether the statement is true or false
In which of the following situations would each of the members be responsible for producing an equal share of the total amount of output sold by the cartel engaged in joint profit maximization?
A) When the amount of revenue generated by each member of the cartel is the same. B) When there are no economies of scale in production. C) When each member of the cartel is using the same scale of production. D) When marginal costs of production are the same for each of the members of the cartel.
Which of the following can be a barrier to an LDC's economic growth and development?
a. Low population growth. b. A low level of human capital. c. Faster capital accumulation. d. More infrastructure.