Market exchange is typically an exchange of goods for money, as opposed to goods for goods, because use of money solves the problem of
A) the absence of a coincidence of wants.
B) the absence of a double coincidence of wants.
C) a coincidence of needs.
D) tax evasion.
B
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Refer to the above figure. What price-output combination would apply under perfect competition?
A) P4 and Q1 B) P3 and Q2 C) P2 and Q3 D) P1 and Q1
Economists cite some beneficial effects of price discrimination. What are these benefits and how do the antitrust laws treat price discrimination?
What will be an ideal response?
A reverse repurchase agreement will accomplish all of the following to banks and other financial intermediaries EXCEPT:
A. discourage investment elsewhere. B. ensure their solvency. C. give them a higher rate of return on T-Bill holdings. D. drain them of liquid cash.
One fundamental idea in macroeconomics about inflation is:
A. when all prices rise, inflation occurs and everyone is worse off. B. if all prices decline, the purchasing power of everyone declines. C. if all wages rise, then inflation doesn't really affect anyone's purchasing power. D. keeping prices constant is the only way to ensure increasing purchasing power over time.