A barter economy is one in which
a. money serves as a medium of exchange.
b. only precious metals are accepted as money.
c. goods are traded directly for other goods.
d. paper money is backed by gold.
C
You might also like to view...
If resource prices are fixed and the selling price rises, then
a. profits will decrease. b. profits will increase. c. profits will remain constant. d. both profits and output will decrease.
Between 1986 and 2010, the top marginal personal income tax rate was 40 percent or less compared to 70 percent or more prior to 1981 . Compared to the earlier time period, in recent years the share of personal income taxes paid by high income taxpayers
a. has been lower. b. has been virtually unchanged. c. has been higher. d. increased in the late 1980s, but has been falling ever since.
The idea that a large national debt is "mortgaging the future of our children and grandchildren" is misleading because:
A. it is the Federal Reserve that will be responsible for making interest payments on the debt. B. future generations will have to bear the opportunity costs of the resources that are used today. C. future generations will not be liable for the interest obligations of the national debt. D. future generations will inherit the interest income as well as the interest obligations.
If interest rates increase to a very high level, people will most likely hold
A. more money in savings accounts and more cash. B. less money in savings accounts and more cash. C. less money in savings accounts and less cash. D. more money in savings accounts and less cash.