A disadvantage of the barter system is that
A) no trade occurs.
B) people must produce all their own food, clothing, and shelter.
C) the opportunity to specialize is greatly reduced.
D) gold is the only unit of account.
C
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The long-run Phillips curve is a (an) _____________line at the natural rate of unemployment.
An economist would classify 100 shares of Apple Computer stock as capital
a. True b. False
Which of the following will not cause the aggregate supply curve to shift?
a. an increase in capital stock b. a decrease in the number of workers c. a decrease in the amount of natural resource base d. a change in the price level e. an increase in the number of entrepreneurs
Which of the following most likely involves buying an inferior service?
a. going on a cruise b. seeing a Broadway show c. streaming a video d. attending a rock concert