In order for a barter transaction to be successful, there must be a
A. federal tax law in effect.
B. market for the goods.
C. double coincidence of wants.
D. high demand for a certain item.
Answer: C
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Mutual interdependence means that: a. each firm faces a perfectly elastic demand curve
b. each firm faces a perfectly inelastic demand curve. c. firms choose price and output simultaneously. d. firms must anticipate the possible reaction of rivals to their own economic behavior.
Whole life insurance differs from term life in which of the following ways?
A. Term life is usually more expensive than whole life. B. Whole life is a combination of term life insurance and a savings account. C. Term life has a savings component while whole life is pure insurance. D. Whole life has a rising premium as the policyholder ages, but term life has a fixed premium.
To calculate the growth rate of a variable, you will
A) calculate the percentage change from one time period to the next. B) calculate the difference between the two variables. C) add the ending value to the beginning value. D) divide the increase by the number of time periods.
During the ________ output ________ its natural level
A) late 1990s, exceeded B) 1960s, deviated relatively little from C) early 1980s, tended to exceed D) all of the above