For barter to occur, traders must have a:
A. unit of account.
B. coincidence of wants.
C. medium of exchange.
D. central banking facility.
Answer: B
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In the distributed lag model, the coefficient on the contemporaneous value of the regressor is called the
A) dynamic effect. B) cumulative multiplier. C) autoregressive error. D) impact effect.
One of the strongest motivations for holding the Bretton Woods Conference was to design new international institutions that would
A) contain communism. B) help countries avoid the mistakes of the 1920s and 1930s. C) provide a collective defense security for Western Europe and North America. D) ensure that world prices were not rising too rapidly.
Suppose the price change of a good causes no change in quantity demanded, we would say that the item is
A) perfectly elastic. B) perfectly inelastic. C) infinitely elastic. D) unitary elastic.
In the GDP accounts, investment includes the purchase of newly issued shares of stock
Indicate whether the statement is true or false