Which set of prices would you expect to see (posted, quoted) in a barter economy?
A) 1 horse = 10 pieces of gold; 1 kettle = 1 piece of gold
B) 1 horse = 10 kettles; 1 kettle = 1/10 horse
C) 1 horse = $200; 1 kettle = $20
D) 1 horse = 10 kettles; 1 kettle = 10 apples; 1 apple = 1 orange
E) b and d
E
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The net-export effect of expansionary monetary policy is a(n)
A) depreciation of the value of the dollar and the decrease of U.S. net exports. B) appreciation of the value of the dollar and the increase of U.S. net exports. C) appreciation of the value of the dollar and the decrease of U.S. net exports. D) depreciation of the value of the dollar and the increase of U.S. net exports.
The table above provides information about the marginal private benefit for education
The marginal private cost, which also equals the marginal social cost, of educating a student is $16,000 per year and does not change as more students are educated. There is an external benefit from education that is equal to $12,000 per student year and does not change as more students are educated. What is the efficient amount of education? A) 40,000 student-years B) 60,000 student-years C) 80,000 student-years D) 100,000 student-years
The person least likely to receive a payment from a corporation in a year of losses is the
A) bank that loaned money to the corporation. B) bondholder. C) preferred stockholder. D) common stockholder.
According to liquidity preference theory, if the price level decreases, then
a. the interest rate falls because money demand shifts right. b. the interest rate falls because money demand shifts left. c. the interest rate rises because money supply shifts right. d. the interest rate rises because money supply shifts left.