Double coincidence of wants is a situation in which:
a. a country exports the good that it can produce at minimum cost
b. a country imports a good that it cannot produce at all.
c. two people each want some good or service that the other person is able to provide.
d. two people each consume the goods that they can produce themselves.
c
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In the long run, what determines the value of money?
A) real GDP B) money market equilibrium C) the government budget balance D) international trade E) equilibrium in the loanable funds market
When the short run aggregate supply curve shifts left, it ___ the short-run Phillips curve
a. Moves the economy up along b. Moves the economy down along c. Shifts right d. Shifts left
Patents:
A. reduce the positive externalities associated with new technologies. B. eliminate the positive externalities associated with new technologies. C. do not affect the positive externalities associated with new technologies. D. increase the positive externalities associated with new technologies.
Producers will take external costs into account when:
A. they actually have to pay those costs. B. environmental groups apply sufficient pressure and generate negative press coverage. C. those costs are less than the benefits. D. those costs are less than the private costs.