Barter system is less desirable than using money for exchange because:
a. it is a more inefficient and a time-consuming process
b. gold and silver are risky and inconvenient to transport.
c. it tends to promote inflation.
d. gold and silver are relatively scarcer than other commodities.
a
You might also like to view...
The period of growth from a trough that brings Real GDP back to its previous peak is called a
A. recovery. B. expansion. C. recession.
Explain how lower tax rates might lead to higher reported GDP levels
Compared to the level of real GDP per person in 1870, by 2010, real GDP in the U.S was ________ times larger, while real GDP per person in Japan was ________.
A. 12; 30 times larger B. 12; smaller C. 30; 12 times larger D. 12; 12 times larger
A monopoly creates a deadweight loss because the monopoly produces less than the efficient quantity
Indicate whether the statement is true or false