Any transaction that involves exchanging one good for another without using money is considered a
A. liquidity transaction.
B. barter transaction.
C. black market exchange.
D. deferred payment.
Answer: B
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The Coase theorem says that which of the following is necessary to lead to an efficient use of resources?
A) presence of transaction costs B) existence of property rights C) government intervention D) All of the above answers are correct.
If the price of a cup of Dunkin' Donuts coffee increases while the price of a Starbucks latte is unchanged, we expect the number of lattes purchased at Starbucks to:
A. increase as some people switch from Dunkin' Donuts coffee to Starbucks lattes. B. decrease as some people switch from Dunkin' Donuts coffee to the Starbucks lattes. C. decrease as some people have less money to spend on caffeinated beverages. D. decrease as some people switch from Starbucks lattes to Dunkin' Donuts coffee.
Which of the following would be considered the most prominent monetarist?
A. John Maynard Keynes B. Adam Smith C. Karl Marx D. Milton Friedman
Getting a college degree is an example of investing in:
A. human capital. B. technology. C. physical capital. D. research and development.