Which of the following is an example of a barter system?
(A) Instead of paying for a purchase in Mexico in pesos, you use dollars from the United States.
(B) Instead of paying the full amount for a car, you pay 10 percent in cash and the rest in monthly installments.
(C) Instead of paying cash for a computer, you use a credit card.
(D) Instead of paying rent, you clean the house for the owner.
Ans: (D) Instead of paying rent, you clean the house for the owner.
You might also like to view...
In the prisoner's dilemma game, each player's dominant strategy leaves her with a larger payoff than she could receive by cooperating with the other player; however, the "prisoner's dilemma" is that as a result of noncooperation she cannot chose
dominant strategy. Indicate whether the statement is true or false
Under the _____ arrangement, the exchange rate is adjusted periodically by small amounts at a fixed, pre-announced rate or in response to certain indicators
a. currency board b. crawling peg c. reserve currency d. conventional fixed peg e. independent float
If a country has a comparative advantage in the production of a good:
A) it can produce that good at a lower opportunity cost. B) it will find trade most beneficial when it trades with another country that has a comparative advantage in the same good. C) it will not find trade beneficial because other country(ies) won't have a comparative advantage in other goods. D) it must also have an absolute advantage in the good.
PriceQuantity DemandedQuantity Supplied$02000$115040$210080$350120$40160 Refer to the table. In this market, the equilibrium price
A. is equal to exactly $2. B. does not exist. C. is between $2 and $3. D. is greater than $4.