Finding both parties to a trade who have something the other party wishes to trade for is called a:
A. double coincidence of wants.
B. unit of account.
C. medium of exchange.
D. store of value.
Answer: A
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An increase in the real wage rate will cause
A) the labor demand curve to shift to the right. B) the labor demand curve to shift to the left. C) the quantity of labor demanded to rise. D) a movement along the labor demand curve.
If the interest rate is 5 percent (0.05) per year, what is the present value of $3,000 to be received two years from now?
a. $2,850.00 b. $3,000.00 c. $2,707.50 d. $2,721.09 e. $2,857.14
Which of the following conveys the correct relationship between production and inventories?
A. If planned inventories > actual inventories then reduce production. B. There is not clear relationship between inventories and production. C. If planned inventories < actual inventories then decrease production. D. If planned inventories > actual inventories then increase production.
If the quantity of bagels demanded decreases by 8% when the price of croissants decreases by 16%, the cross-price elasticity of demand between bagels and croissants is
A. 2. B. 0.5. C. -2. D. -5.