Money facilitates trade because
a. it eliminates the need for specialization
b. it prevents people from taking advantage of each other
c. it serves as a medium of exchange
d. division of labor allows money to be produced at a lower cost
e. people do not benefit from barter unless money is used
C
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The opportunity cost of being unemployed tends to be the highest in which of the following countries?
A) Canada B) France C) the United Kingdom D) the United States
Which of the following statements about the 2000 average wages of blacks and Hispanics compared to whites is most accurate?
a. African Americans earn about the same was whites but Hispanics earn about 70% of what whites earn. b. African Americans earn about 70% of what whites earn, while Hispanics earn about 75% of what whites earn. c. Hispanics earn about the same was whites but African Americans earn about 70% of what whites earn. d. African Americans and Hispanics earn less than half of what whites earn.
An example of physical capital is a:
A. seeds. B. bank loan. C. plow. D. tree.
Advances in information and communication technology are the principal factors cited for the:
A. slowdown in productivity growth between 1973 and 1995. B. speedup in productivity growth since 1995. C. slowdown in productivity growth since 1995. D. speedup in productivity growth between 1973 and 1995.