The term "double coincidence of wants" is necessary for _________ to take place.
Fill in the blank(s) with the appropriate word(s).
barter
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Refer to the figure above. If the engineer spends his entire time on producing websites, how many Web sites can he produce?
A) 2 B) 5 C) 10 D) 12
Pork from pigs can be used to produce bacon or sausage, but not both. If the price of bacon rises for some reason, then, everything else equal: a. the price of sausage will rise
b. the price of sausage will fall. c. the resources used to raise pigs will become less expensive. d. the demand for bacon will decrease.
An increase in the U.S. price level relative to the price level of U.S. trading partners will cause the aggregate expenditures function in the United States to
a. shift up. b. shift down. c. get flatter. d. get steeper.
U.S. tax laws allow taxpayers, in computing the amount of tax they owe, to use the real value, as opposed to the nominal value, of
a. both interest income and capital gains. b. interest income but not capital gains. c. capital gains but not interest income. d. neither interest income nor capital gains.