According to a World View article titled "Trading Chickens for Diapers," the Venezuelan economy turned to a barter system because
A. A system of barter is typically more efficient than a monetary system.
B. It is usually easier to measure the value of goods in terms of other goods rather than cash.
C. The movement to a cashless society was the next step in the movement toward the ideal communist state.
D. The bolivar has become worthless.
Answer: D
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Based on the information in the above table, what is the labor force participation rate?
What will be an ideal response?
Refer to Figure 17-2. Suppose the economy is at point B in the figure above. Which of the following is true?
A) The economy is producing at potential GDP. B) The current unemployment rate is 5%. C) Expected inflation and actual inflation are the same. D) The expected rate of inflation is 3%. E) The natural rate of unemployment is 3.8%.
A(n) ________ variable is calculated from within the model. A(n) ________ variable can never be taken as given
A) endogenous; endogenous B) exogenous; endogenous C) endogenous; exogenous D) exogenous; exogenous E) none of the above
An in-kind gift causes the budget line to:
A. rotate counterclockwise. B. shift to the left in a parallel fashion. C. shift to the right in a parallel fashion. D. None of the statements is correct.