Countertrade refers to any one of several different arrangements that parties negotiate so that they can trade goods and services with limited or no use of currency.
a. true
b. false
a. true
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Firms in a small economy anticipated that inventories would grow over the past year by $500,000. Over that year, inventories actually grew by only $400,000. This implies that
A) there was a planned increase in inventories that year. B) aggregate expenditure that year was greater than GDP that year. C) aggregate expenditure that year was equal to GDP that year. D) there was an unplanned increase in inventories that year.
Circle of Crust Pie Five Pizzas has a frequent purchaser program, called Circle of Crust, in which patrons earn points with every purchase. With enough points, the patron's next purchase is free. How does this program alter customer decisions?
The tendency of those who are insured to take more risks as a result is a problem of: a. free riding
b. moral hazard. c. adverse selection. d. positive externalities.
Which of the following best approximates a pure monopoly?
A. The Kansas City wheat market B. The only bank in a small town C. The soft drink market D. The foreign exchange market