The term "double coincidence of wants"
A. means that people are trying to purchase the same thing.
B. is a situation where runaway prices are the result of printing too much money.
C. describes a barter situation where individuals agree to trade commodities in amounts satisfactory to both parties.
D. means that people with the same commodities agree to trade among themselves.
C. describes a barter situation where individuals agree to trade commodities in amounts satisfactory to both parties.
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What will be an ideal response?
Everything else held constant, when the inflation rate is expected to rise, interest rates will ________; this result has been termed the ________
A) fall; Keynes effect B) fall; Fisher effect C) rise; Keynes effect D) rise; Fisher effect
Unemployment that results from business recessions that occur when aggregate demand is insufficient to create full employment is
A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) seasonal unemployment.
When a payroll tax is enacted, the wage received by workers
a. falls, and the wage paid by firms rises. b. falls, and the wage paid by firms falls. c. rises, and the wage paid by firms falls. d. rises, and the wage paid by firms rises.