In a barter system people:
A. have to specialize in order to have goods to trade.
B. must be self-sufficient.
C. cannot specialize because they never know what goods will be desired.
D. are less likely to specialize as extensively as they would in a monetary economy.
Answer: D
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During a recession, the duration of unemployment ________ and the unemployment rate is ________ the natural rate of unemployment
A) does not change; equal to B) shortens; equal to C) shortens; greater than D) lengthens; less than E) lengthens; greater than
A security with a high degree of marketability sells at a price that is
A) highly volatile. B) unpredictable. C) lower than other securities. D) higher than the equilibrium price of less marketable securities.
The export supply curve is the portion of the domestic supply curve below the no-trade equilibrium price
a. True b. False Indicate whether the statement is true or false
By polling people, we can calculate the demand for public goods and have the market provide them. But we don't. Instead, we allow the government to pay for and provide those goods because it
a. knows better than individuals what public goods are desirable b. avoids "special interests" interference in the market c. can avoid all negative and positive externalities d. can tax people to finance the production of public goods and thereby prevent freeriders e. can prevent market failure