A barter economy is an economy where
A) goods and services are exchanged for money.
B) money is exchanged for goods and services.
C) goods and services are exchanged for other goods and services.
D) goods and services are exchanged for liabilities.
Answer: C
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All else equal, an increase in the price of complementary products for the Apple Watch, such as Sensoria's wearable technology, would
A) shift the supply curve for the Apple Watch to the right. B) shift the demand curve for the Apple Watch to the left. C) shift the demand curve for the Apple Watch to the right. D) shift the supply curve for the Apple Watch to the left.
When a currency is undervalued, international reserves ________ and the country has a balance-of-payments ________.
A. decrease; surplus B. increase; surplus C. increase; deficit D. decrease; deficit
In a perfectly competitive market,
A. all firms produce and sell a standardized or undifferentiated product. B. firms are price-setters. C. the output sold by a particular firm may be quite different from the output sold by the other firms in the market. D. it is difficult for new firms to enter the market due to barriers to entry.
Most of the U.S. national debt is owed to ____. Thus a rising national debt implies that there will be a future redistribution of income and wealth in favor of ____.
A. foreigners; foreigners B. other U.S. citizens; bondholders C. foreigners; those needing government services D. other U.S. citizens; those needing government services