The direct exchange of one good or service for another is called
A) a token exchange.
B) a standard of deferred payment.
C) the exchange of purchasing power.
D) barter.
D
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Refer to Current and Future Consumption. The diagram shows the case of a
a. representative agent.
b. net borrower.
c. net lender.
d. disequilibrium situation.
Hector puts $150 into an account when the interest rate is 4 percent. Later he checks his balance and finds he has about $168.73 . How long did Hector wait to check his balance?
a. 3 years b. 3.5 years c. 4 years d. 4.5 years
Discuss the controversy surrounding affirmative action. How does this controversy illustrate the trade-off between equality and efficiency?
What will be an ideal response?
In an open economy, how many TVs will this country import?
A. 30,000 B. 90,000 C. 60,000 D. 120,000