"Certified shade-grown, organic coffee" is an example of requiring home standards in a foreign market instead of trade barriers
Indicate whether the statement is true or false
FALSE
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Most recessions in the United States since World War II have begun with
A) a decline in residential construction. B) a rapid increase in the price level. C) a stock market crash. D) a substantial number of bank failures.
The overall U.S. balance of payments
a. shows a deficit b. shows a surplus c. is the merchandise trade balance d. equals exports minus imports e. shows how deficits in one account are exactly offset by surpluses in other accounts
Microeconomic substitution is impossible for the economy as a whole because
a. money is a veil. b. real GDP measures the total quantity of goods and services produced by all firms in all markets. c. the prices of some goods and services adjust sluggishly in response to changing economic conditions. d. a lower price level increases real wealth, which stimulates spending by consumers and vice-versa.
Which of the following is not a problem associated with barter?
a) tax rates are generally higher on barter than on monetary transactions b) the quality of goods used in barter may differ across time and place c) transporting goods for use in barter is inconvenient d) goods used in barter may not be easily divisible e) barter requires a double coincidence of wants