In an economy that relies on barter, trade requires a double-coincidence of wants
a. True
b. False
Indicate whether the statement is true or false
True
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In economics, money is defined as
a. the total value of one's assets in current prices. b. the total value of one's assets minus the total value of one's debts, in current prices. c. the total amount of salary, interest, and rental income earned during a year. d. any asset people generally accept in exchange for goods and services.
If a demand curve for a good is perfectly inelastic, then the seller could
A. increase price and not change the number of units purchased. B. ignore the effects of costs on its profits. C. rely on buyers to look for other products if it increases price. D. sell more units by advertising.
A central bank's international reserves consists of its holdings of
A) gold. B) silver and gold. C) foreign assets and gold. D) domestic assets and precious metals. E) foreign and domestic currency holdings.
Which of the following is not a characteristic of a bond?
a. its tax treatment b. its credit risk c. its term d. its dividend yield