Andy can't make a deal with Danny. Andy has a Alex Rodriguez baseball card and would like to trade it to Danny for Danny's Albert Pujols card, but Danny doesn't want a Alex Rodriquez card
Andy's problem illustrates the drawback to a barter system known as A) the specialization problem.
B) the double coincidence of wants problem.
C) the many prices problem.
D) the transactions problem.
B
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All else being equal, if the prospect of a recession leads the Federal Reserve to ease monetary policy, the equilibrium value of the exchange rate for the U.S. dollar will:
A. fall. B. either rise or fall depending on whether the supply or demand for dollars changes more. C. remain fixed. D. rise.
Refer to Figure 4-16. Suppose the market is initially in equilibrium at price P1 and now the government imposes a tax on every unit sold. Which of the following statements best describes the impact of the tax? For demand curve D1
A) the producer's share of the tax burden is the same whether the supply curve is S1 or S2. B) the producer bears a greater share of the tax burden if the supply curve is S2. C) the producer bears a greater share of the tax burden if the supply curve is S1. D) the producer bears the entire burden of the tax if the supply curve is S1 and the consumer bears the entire burden of the tax if the supply curve is S2.
An innovation that blurred the distinction between brokerage firms and commercial banks was Merrill Lynch's development in 1977 of the
A) cash management account. B) money market mutual fund. C) individual retirement account. D) discount brokerage.
Determining whether the income distribution accurately reflects performance ability is possible, although difficult
Indicate whether the statement is true or false