Which of the following is necessary to make a trade in a barter economy?
A. Money
B. Unlimited wants
C. A medium of exchange
D. A coincidence of wants
Answer: D
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________ emphasize(s) that changing expectations about the future is the main reason behind fluctuations in the economy
A) The real business cycle theory B) Keynesian theory C) Ricardian theory D) Monetary theories
The desire to keep assets in cash to take advantage of favorable changes in the value of non-cash assets is called the:
a. speculative demand for money. b. wealth demand for money. c. risk interest in money. d. precautionary demand for money. e. transactions demand for money.
Which of the following is the opportunity cost of money?
a. The use of money as a means of payment b. The trouble of having to get money out of the bank c. The interest forgone by holding money d. The ability to purchase things at a moment's notice e. Commissions paid to brokers
At the time the _________ was passed, the ratio of total earnings for African American men was 62% of their white counterparts. Today the gap is smaller, although it still has not closed.
a. Fair Labor Standards Act of 1938 b. Civil Rights Act of 1964 c. Taft-Hartley Act of 1947 d. National Labor-Management Relations Act of 1935