The greater the number of different goods available in an economy, the:
a. less likely it is that a double coincidence of wants will exist, and the less likely it is that monetary exchange will develop.
b. less likely it is that a double coincidence of wants will exist, and the more likely it is that monetary exchange will develop.
c. more likely it is that a double coincidence of wants will exist, and the less likely it is that monetary exchange will develop.
d. more likely it is that a double coincidence of wants will exist, and the more likely it is that monetary exchange will develop.
e. more likely it is that individuals are producing only goods they want to consume.
b
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American Idol is a popular television program where contestants compete to win a $1 million record deal. To determine the winner, fans either dial the number or send a text message indicating their favorite contestant
The contestant with the highest number of texts and phone calls wins. What is the scarce resource in this example? A) $1 million record deal B) television ratings C) phone calls and text messages D) fans
The tastes for foreign goods and services generally has a ______ relationship with aggregate expenditure.
A. negative B. positive C. skewed D. constant
If a country had a real GDP of $500 million, and the GDP Ddeflator was 90, what is the nominal GDP?
a. $440 million b. $540 million c. $450 million d. $550 billion
Which of the following is asserted by the Equal Pay Act of 1963?
a. Men and women who perform the same amount and type of work at a company must receive the same pay. b. Men and women who have the same education and skills must receive the same pay from an employer. c. Men and women who have the same amount of job experience must receive the same pay and promotion opportunities. d. Men and women who perform similar tasks at different companies must receive the same pay.