____________ solves the mutual coincidence of wants problem
a. Barter
b. Mercantilism
c. Free trade
d. Money
d. Money
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Compared to a single-price monopolist, a price-discriminating monopolist
A) produces more output. B) produces the same amount of output but charges a higher price. C) generates a larger deadweight loss. D) produces less output but charges a lower price.
In international exchange markets, a rise in interest rates in the United States will cause the demand for dollars to ________ and the supply of dollars to ________
A) increase; increase B) decrease; increase C) decrease; decrease D) increase; decrease
A subsidy is defined as
a. a payment that must be made to the government whenever a good or service is sold. b. the number of trades that are eliminated from a market when a tax is imposed. c. the difference between total revenue and total cost for a business firm. d. a payment to either the buyer or seller of a good or service, usually on a per-unit basis, when a good or service is purchased.
The explicit functions given to the Fed by the Congress include all of the following except:
A. providing banking services to the U.S. government. B. holding the nominal interest rate no more than 2 percent above the real interest rate. C. regulating financial institutions. D. serving as a lender of last resort to financial institutions.