Suppose that an economy has 100 basic goods and services. If it were a barter economy it would need
A. many more prices than a money economy.
B. a few more prices than a money economy.
C. the same number of prices as a money economy.
D. a few less prices than a money economy.
A. many more prices than a money economy.
You might also like to view...
On a production possibilities frontier diagram, where are production points that have tradeoffs? Where are production points with a free lunch?
What will be an ideal response?
Advocates of the public-choice view argue that elected officials
a. will always respond to inflation with expansionary policies but will respond to unemployment with restrictive policies. b. will actively respond to inflation with restrictive policies but are reluctant to respond to unemployment with expansionary policies. c. will always respond to both inflation and unemployment with expansionary policies. d. None of the above
The slope of a straight line
A) is the same at all points along that line. B) cannot be defined. C) changes from one point to the next on that line. D) is always equal to zero.
John Maynard Keynes argued that the creation of wealth is properly the concern of government , not the concern of individuals .
A True B False