The barter system is rarely used today because:
Answer: of the necessity for both parties to want something the other can provide at the same time.
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The table above gives information about the economy of France. The growth rate of real GDP per person in 1998 is ________ percent
A) 0.4 B) 3.1 C) 1.9 D) 3.6 E) 4.0
National output and national income are the same because
A) one seller's profit is another seller's loss. B) one seller's profit is another buyer's loss. C) the sale of goods and services generates income for the sellers. D) the sale of goods and services generates tax revenues for the government.
In the short run, the point at which diminishing marginal returns to labor begin is the point at which the marginal cost curve
A) peaks. B) bottoms out. C) is upward sloping. D) is downward sloping.
The United States economy is
a. the third largest in the world. b. larger than all other national economies combined. c. second largest in the world, behind Japan. d. largest in the world.