The major shortcoming of a barter economy is
A) that money loses value from inflation.
B) that goods and services are not traded.
C) the requirement of specialization and exchange.
D) the requirement of a double coincidence of wants.
D
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In the figure above, which of the following represents a real flow of a factor of production?
A) Labor B) Wages C) Goods bought D) Services sold E) Firms' expenditures on factors of production
For a person in a desert community, as compared to being in a non-desert community, water would have
a. lower marginal utility and lower total utility b. lower marginal utility and higher total utility c. higher marginal utility and lower total utility d. higher marginal utility and higher total utility e. zero marginal utility, but higher total utility
The idea of linking public school teacher salaries to student outcomes is basically an attempt to impose a ________ compensation scheme on teachers.
A. profit sharing B. work-for-pay C. piece rate D. time rate E. tournament
Which of the following is considered a contributive standard for the distribution of income?
A) rewarding workers according to their productivity B) rewarding workers according to their needs C) rewarding workers according to the number of their dependents D) all of the above