For barter to occur there must be
A) two people willing to pay with credit.
B) a double coincidence of wants for each good to be exchanged.
C) one person who pays cash.
D) hyperinflation.
B
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A federal government surplus is said to exist in the event that ________
A) federal outlays are greater than federal revenues B) federal outlays are equal to federal revenues C) federal outlays are less than federal revenues D) any of the above conditions exists
Dumping is the practice of
a. selling a lower quality product abroad b. selling a commodity abroad at a price lower than the domestic price c. selling a commodity abroad at a price higher than the domestic price d. flooding a foreign market with large quantities of a good e. most less-developed countries but not industrialized countries
"The government should levy higher taxes on the rich and use the additional revenues to provide better housing for the poor." This statement illustrates: a. the fallacy of composition
b. the basic principle of economics. c. a normative economic statement. d. a positive economic statement.
Network effects are:
A. increases in the value of a product to each user, including existing users, as the total number of users rises. B. reductions in per unit production cost as firms learn by doing. C. increases in demand resulting from products being mentioned positively in a television program. D. the change in real GDP resulting from a change in investment or government spending.