In an economy with ________, there are more prices than in an economy with ________
A) barter; money B) fiat money; commodity money
C) fiat money; barter D) money; barter
A
You might also like to view...
An increase in labor productivity shifts the
A) labor demand curve rightward. B) labor demand curve leftward. C) labor supply curve rightward. D) labor supply curve leftward.
? In Figure 5-16, Adam is
A. better off at C than at D and able to afford either C or D. B. better off at D than at C but only able to afford C. C. equally well off at C and D and able to afford either C or D. D. equally well off at C and D but only able to afford C.
Government revenue from an excise tax of a given amount is greater when demand is relatively inelastic than when it is relatively elastic
Indicate whether the statement is true or false
In the "Interdisciplinary Perspective" titled "A Philosophical Critique on the Marginal Utility of Money," the basic point made is that
a. the law of diminishing marginal utility does not apply to money b. marginal utility always increases at an increasing rate for money c. once basic needs are met, additional income or wealth does not increase happiness d. most of the theories advanced by economists are flawed e. the total utility function for money has a downward slope