The direct exchange of one good for another
A. Is most efficient for an economy.
B. Facilitates market exchanges.
C. Is barter.
D. Facilitates specialization in production.
Answer: C
You might also like to view...
What is meant by holding all else equal? How is this concept used when discussing movements along the demand curve? How is this concept used when discussing movements along the supply curve?
What will be an ideal response?
The existence of international policy externalities provides an incentive for
A) strategic policy making. B) monetary autonomy. C) optimal currency areas. D) inflationary policy bias.
If a check was written on Bank X for $500 and Bank Y presented the check to Bank X for payment, what will happen to the required reserves for each respective bank after payment is made?
A. Bank X's required reserves increase; Bank Y's decrease. B. Both banks will see an increase in their required reserves. C. Bank Y's required reserves increase; Bank X's decrease. D. Both banks will see a decrease in their required reserves.
In the diagram, the economy's long-run aggregate supply curve is shown by line:
A. 1.
B. 2.
C. 3.
D. 4.